Karooooo (NASDAQ:KARO) Shares Gap Down to $24.87

Karooooo Ltd. (NASDAQ:KAROGet Rating) gapped down before the market opened on Friday . The stock had previously closed at $24.87, but opened at $24.26. Karooooo shares last traded at $24.26, with a volume of 2 shares changing hands.

Wall Street Analyst Weigh In

Separately, Raymond James decreased their price target on Karooooo from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, October 14th.

Karooooo Price Performance

The business has a 50-day moving average price of $23.53 and a 200 day moving average price of $24.12. The company has a market cap of $529.44 million, a price-to-earnings ratio of 21.72 and a beta of 1.30. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.05.

Hedge Funds Weigh In On Karooooo

Hedge funds have recently modified their holdings of the stock. Schwartz Investment Counsel Inc. increased its position in Karooooo by 2.0% during the second quarter. Schwartz Investment Counsel Inc. now owns 25,328 shares of the company’s stock worth $545,000 after buying an additional 500 shares during the last quarter. Ronit Capital LLP acquired a new position in Karooooo during the third quarter worth $61,000. Vaughan Nelson Investment Management L.P. acquired a new position in Karooooo during the second quarter worth $128,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in Karooooo during the third quarter worth $3,086,000. 14.85% of the stock is owned by institutional investors and hedge funds.

About Karooooo

(Get Rating)

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.

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