Karooooo (NASDAQ:KARO) Shares Down 4.2% – What’s Next?

Karooooo Ltd. (NASDAQ:KARO) shares dropped 4.2% on Wednesday . The stock traded as low as $45.50 and last traded at $44.77. Approximately 6,156 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 57,332 shares. The stock had previously closed at $46.72.

Analysts Set New Price Targets

Separately, Raymond James reaffirmed an “outperform” rating and issued a $51.00 price target (up from $46.00) on shares of Karooooo in a report on Thursday, January 16th.

Karooooo Trading Down 2.8 %

The stock’s fifty day simple moving average is $45.72 and its 200-day simple moving average is $40.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.24. The firm has a market cap of $1.40 billion, a PE ratio of 29.12 and a beta of 1.03.

Karooooo (NASDAQ:KARO) last issued its earnings results on Tuesday, January 14th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. On average, sell-side analysts forecast that Karooooo Ltd. will post 1.57 earnings per share for the current year.

Institutional Investors Weigh In On Karooooo

Large investors have recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new stake in Karooooo in the third quarter valued at approximately $216,000. Walleye Capital LLC purchased a new stake in Karooooo in the third quarter valued at approximately $323,000. Gladius Capital Management LP boosted its position in Karooooo by 124.2% in the third quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock valued at $575,000 after buying an additional 8,041 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Karooooo by 23.3% in the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock valued at $520,000 after acquiring an additional 3,356 shares during the period. Finally, Capricorn Fund Managers Ltd purchased a new stake in Karooooo in the 4th quarter worth approximately $6,146,000.

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.