Karooooo Ltd. (NASDAQ:KARO) Short Interest Up 7.7% in November

Karooooo Ltd. (NASDAQ:KARO) saw a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 25,300 shares, a growth of 7.7% from the October 31st total of 23,500 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average trading volume of 34,400 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On Karooooo

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC boosted its holdings in Karooooo by 50.6% in the second quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock valued at $116,000 after purchasing an additional 1,377 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Karooooo in the 3rd quarter valued at $216,000. Walleye Capital LLC acquired a new position in shares of Karooooo in the 3rd quarter valued at $323,000. Gladius Capital Management LP raised its stake in Karooooo by 124.2% during the 3rd quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock worth $575,000 after acquiring an additional 8,041 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Karooooo by 23.3% during the 2nd quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after acquiring an additional 3,356 shares in the last quarter.

Karooooo Stock Performance

NASDAQ KARO opened at $46.98 on Wednesday. Karooooo has a 52 week low of $23.35 and a 52 week high of $47.10. The firm has a 50 day moving average of $40.45 and a two-hundred day moving average of $36.26. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15.

Karooooo (NASDAQ:KARO) last posted its earnings results on Tuesday, October 15th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $60.70 million for the quarter, compared to analyst estimates of $60.26 million. Karooooo had a return on equity of 29.39% and a net margin of 19.29%. Sell-side analysts predict that Karooooo will post 1.61 earnings per share for the current fiscal year.

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.