Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

Karooooo Ltd. (NASDAQ:KARO) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 45,900 shares, an increase of 18.6% from the December 31st total of 38,700 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 43,300 shares, the days-to-cover ratio is presently 1.1 days.

Karooooo Price Performance

Karooooo stock traded down $0.85 on Friday, reaching $46.16. The company’s stock had a trading volume of 26,331 shares, compared to its average volume of 53,115. The business’s fifty day moving average price is $46.07 and its 200 day moving average price is $41.08. 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 company has a market cap of $1.43 billion, a price-to-earnings ratio of 29.59 and a beta of 1.03. Karooooo has a twelve month low of $23.35 and a twelve month high of $50.54.

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

Hedge Funds Weigh In On Karooooo

Hedge funds and other institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund acquired a new position in shares of Karooooo in the fourth quarter valued at approximately $26,000. Quadrature Capital Ltd bought a new stake in Karooooo in the 3rd quarter valued at $216,000. Walleye Capital LLC acquired a new position in Karooooo in the 3rd quarter worth $323,000. Gladius Capital Management LP lifted its holdings in shares of Karooooo by 124.2% in the third quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock valued at $575,000 after purchasing an additional 8,041 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Karooooo by 23.3% during the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after buying an additional 3,356 shares during the period.

Wall Street Analysts Forecast Growth

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

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.