Karooooo (NASDAQ:KARO) Sees Strong Trading Volume – Should You Buy?

Karooooo Ltd. (NASDAQ:KARO) saw unusually-high trading volume on Friday . Approximately 27,144 shares were traded during mid-day trading, an increase of 29% from the previous session’s volume of 21,034 shares.The stock last traded at $44.24 and had previously closed at $44.20.

Karooooo Stock Up 12.2 %

The stock has a 50 day simple moving average of $40.89 and a two-hundred day simple moving average of $36.65. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.18.

Karooooo (NASDAQ:KARO) last released its quarterly earnings data on Tuesday, October 15th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Karooooo had a return on equity of 29.39% and a net margin of 19.29%. The business had revenue of $60.70 million during the quarter, compared to analyst estimates of $60.26 million. Analysts forecast that Karooooo Ltd. will post 1.61 EPS for the current year.

Institutional Investors Weigh In On Karooooo

Several institutional investors have recently bought and sold shares of KARO. Swedbank AB boosted its holdings in Karooooo by 26.0% in the 2nd quarter. Swedbank AB now owns 120,000 shares of the company’s stock worth $3,516,000 after buying an additional 24,746 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in Karooooo by 5.4% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 209,097 shares of the company’s stock worth $6,001,000 after buying an additional 10,705 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Karooooo during the 3rd quarter worth approximately $323,000. Gladius Capital Management LP boosted its holdings in shares of Karooooo by 124.2% during the 3rd quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock worth $575,000 after purchasing an additional 8,041 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Karooooo during the 3rd quarter worth approximately $216,000.

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.