Karooooo (NASDAQ:KARO) Sees Strong Trading Volume Following Strong Earnings

Karooooo Ltd. (NASDAQ:KARO) shares saw unusually-strong trading volume on Wednesday after the company announced better than expected quarterly earnings. Approximately 26,529 shares were traded during trading, a decline of 35% from the previous session’s volume of 41,118 shares.The stock last traded at $44.68 and had previously closed at $47.49.

The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. Karooooo had a net margin of 19.29% and a return on equity of 29.39%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Walleye Capital LLC acquired a new stake in Karooooo during the third quarter worth $323,000. Gladius Capital Management LP grew 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 period. Quadrature Capital Ltd acquired a new stake in shares of Karooooo during the 3rd quarter worth about $216,000. Renaissance Technologies LLC raised its holdings in Karooooo by 23.3% in the 2nd 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 period. Finally, Acadian Asset Management LLC lifted its position in Karooooo by 50.6% in the second quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock valued at $116,000 after buying an additional 1,377 shares during the last quarter.

Karooooo Trading Down 3.2 %

The company has a market cap of $983.27 million, a PE ratio of 31.29 and a beta of 1.03. The company’s 50 day simple moving average is $44.75 and its two-hundred day simple moving average is $39.84. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.18 and a quick ratio of 1.17.

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.