Karooooo (NASDAQ:KARO) Stock Price Down 4.2% – Should You Sell?

Karooooo Ltd. (NASDAQ:KARO) dropped 4.2% during mid-day trading on Wednesday . The stock traded as low as $45.50 and last traded at $44.77. Approximately 6,156 shares changed hands 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.

Wall Street Analyst Weigh In

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

Karooooo Stock Down 2.4 %

The firm has a 50 day simple moving average of $45.97 and a two-hundred day simple moving average of $40.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.24 and a current ratio of 1.25. The stock has a market cap of $1.42 billion, a P/E ratio of 29.41 and a beta of 1.03.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings data on Tuesday, January 14th. The company reported $0.43 EPS for the quarter, topping 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%. Equities research analysts predict that Karooooo Ltd. will post 1.57 earnings per share for the current year.

Institutional Trading of Karooooo

Several large investors have recently made changes to their positions in KARO. Capricorn Fund Managers Ltd acquired a new position in Karooooo in the 4th quarter valued at approximately $6,146,000. Schwartz Investment Counsel Inc. raised its holdings in Karooooo by 17.2% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 60,566 shares of the company’s stock valued at $2,735,000 after acquiring an additional 8,881 shares in the last quarter. Walleye Capital LLC acquired a new position in Karooooo in the 3rd quarter valued at approximately $323,000. Gladius Capital Management LP raised its holdings in 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. Finally, Quadrature Capital Ltd acquired a new position in Karooooo in the 3rd quarter valued at 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.