Karooooo (NASDAQ:KARO) Reaches New 52-Week High – Should You Buy?

Karooooo Ltd. (NASDAQ:KARO)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $50.54 and last traded at $50.00, with a volume of 55791 shares changing hands. The stock had previously closed at $47.12.

Karooooo Stock Up 6.1 %

The business has a fifty day moving average price of $44.06 and a two-hundred day moving average price of $39.28. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 34.01 and a beta of 1.03.

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

Institutional Investors Weigh In On Karooooo

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jupiter Asset Management Ltd. lifted its stake in Karooooo by 5.4% in the second quarter. Jupiter Asset Management Ltd. now owns 209,097 shares of the company’s stock valued at $6,001,000 after acquiring an additional 10,705 shares during the last quarter. Renaissance Technologies LLC increased its position in Karooooo by 23.3% during the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after buying an additional 3,356 shares during the last quarter. Gladius Capital Management LP raised its stake 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 in the last quarter. Walleye Capital LLC acquired a new stake in Karooooo in the 3rd quarter worth approximately $323,000. Finally, Quadrature Capital Ltd bought a new stake in Karooooo during the third quarter worth approximately $216,000.

About Karooooo

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.