Karooooo (NASDAQ:KARO) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Karooooo Ltd. (NASDAQ:KARO) saw unusually-strong trading volume on Friday . Approximately 39,880 shares changed hands during trading, a decline of 12% from the previous session’s volume of 45,204 shares.The stock last traded at $45.47 and had previously closed at $45.66.

Wall Street Analyst Weigh In

Separately, Raymond James reiterated an “outperform” rating and set a $51.00 price objective (up previously from $46.00) on shares of Karooooo in a research report on Thursday, January 16th.

Karooooo Price Performance

The firm’s 50-day moving average is $46.64 and its two-hundred day moving average is $42.66. The company has a market cap of $1.40 billion, a P/E ratio of 29.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.24.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings results on Tuesday, January 14th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.05. Karooooo had a net margin of 19.87% and a return on equity of 30.29%. Analysts anticipate that Karooooo Ltd. will post 1.57 earnings per share for the current year.

Institutional Investors Weigh In On Karooooo

Several large investors have recently bought and sold shares of the business. New York State Common Retirement Fund bought a new position in Karooooo during the fourth quarter valued at $26,000. Squarepoint Ops LLC increased its position in Karooooo by 6.8% during the fourth quarter. Squarepoint Ops LLC now owns 9,494 shares of the company’s stock valued at $429,000 after acquiring an additional 602 shares during the last quarter. Lazard Asset Management LLC increased its position in Karooooo by 17.5% during the fourth quarter. Lazard Asset Management LLC now owns 4,961 shares of the company’s stock valued at $223,000 after acquiring an additional 740 shares during the last quarter. Jupiter Asset Management Ltd. increased its position in Karooooo by 0.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 236,972 shares of the company’s stock valued at $10,699,000 after acquiring an additional 1,387 shares during the last quarter. Finally, Polen Capital Management LLC increased its position in Karooooo by 24.8% during the fourth quarter. Polen Capital Management LLC now owns 13,273 shares of the company’s stock valued at $599,000 after acquiring an additional 2,639 shares during the last quarter.

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.