Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

Karooooo Ltd. (NASDAQ:KARO) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 49,900 shares, a decline of 37.6% from the February 28th total of 80,000 shares. Based on an average daily volume of 40,400 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.6% of the shares of the company are short sold.

Analyst Ratings Changes

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

Karooooo Stock Performance

Karooooo stock traded down $0.38 during midday trading on Friday, reaching $42.66. 15,180 shares of the stock traded hands, compared to its average volume of 30,217. Karooooo has a fifty-two week low of $23.35 and a fifty-two week high of $50.54. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 27.35 and a beta of 1.03. The firm has a fifty day moving average price of $44.83 and a two-hundred day moving average price of $43.35.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings data on Tuesday, January 14th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.05. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. On average, equities research analysts forecast that Karooooo will post 1.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund bought a new stake in shares of Karooooo during the fourth quarter valued at about $26,000. BNP Paribas Financial Markets bought a new stake in shares of Karooooo during the 4th quarter worth about $210,000. Quadrature Capital Ltd acquired a new stake in shares of Karooooo in the 3rd quarter worth approximately $216,000. Lazard Asset Management LLC boosted its holdings in shares of Karooooo by 17.5% in the fourth quarter. Lazard Asset Management LLC now owns 4,961 shares of the company’s stock valued at $223,000 after acquiring an additional 740 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Karooooo during the third quarter valued at approximately $323,000.

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.