Karooooo Ltd. (NASDAQ:KARO – Get Free Report) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 18,800 shares, an increase of 12.6% from the May 31st total of 16,700 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 8,300 shares, the days-to-cover ratio is presently 2.3 days.
Karooooo Stock Performance
Shares of KARO opened at $30.61 on Wednesday. Karooooo has a 52-week low of $18.59 and a 52-week high of $37.11. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $29.72 and its two-hundred day moving average is $26.80.
Karooooo (NASDAQ:KARO – Get Free Report) last announced its earnings results on Wednesday, May 15th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Karooooo had a net margin of 17.54% and a return on equity of 27.24%. The company had revenue of $57.64 million for the quarter, compared to analysts’ expectations of $55.54 million. Equities analysts predict that Karooooo will post 1.55 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Karooooo
Analysts Set New Price Targets
Separately, Morgan Stanley reaffirmed an “overweight” rating and set a $31.00 target price on shares of Karooooo in a research note on Monday, April 22nd.
View Our Latest Report on Karooooo
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.
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