Karooooo (NASDAQ:KARO) Reaches New 1-Year High – Time to Buy?

Karooooo Ltd. (NASDAQ:KARO) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $50.01 and last traded at $49.22, with a volume of 18993 shares changing hands. The stock had previously closed at $45.82.

Karooooo Price Performance

The stock’s 50 day moving average price is $43.57 and its 200-day moving average price is $38.93. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.03 billion, a PE ratio of 32.67 and a beta of 1.04.

Karooooo (NASDAQ:KARO) last issued its earnings results on Tuesday, October 15th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $60.70 million for the quarter, compared to analysts’ expectations of $60.26 million. Karooooo had a net margin of 19.29% and a return on equity of 29.39%. As a group, equities analysts forecast that Karooooo Ltd. will post 1.61 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its holdings in shares of Karooooo by 50.6% during the second quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock valued at $116,000 after acquiring an additional 1,377 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Karooooo in the third quarter worth $216,000. Walleye Capital LLC acquired a new stake in shares of Karooooo during the third quarter worth $323,000. Renaissance Technologies LLC grew its holdings in shares of Karooooo by 23.3% during the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock valued at $520,000 after buying an additional 3,356 shares during the last quarter. Finally, Gladius Capital Management LP increased its position in shares of Karooooo by 124.2% in the 3rd quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock valued at $575,000 after acquiring an additional 8,041 shares during the period.

Karooooo Company Profile

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.