Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

Karooooo Ltd. (NASDAQ:KARO) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 49,900 shares, a drop of 37.6% from the February 28th total of 80,000 shares. Based on an average trading volume of 40,400 shares, the short-interest ratio is currently 1.2 days. Approximately 0.6% of the shares of the stock are short sold.

Institutional Investors Weigh In On Karooooo

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

Analysts Set New Price Targets

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

Karooooo Trading Down 0.9 %

Shares of KARO traded down $0.38 during trading hours on Friday, hitting $42.66. The company had a trading volume of 15,180 shares, compared to its average volume of 30,217. The firm has a market cap of $1.32 billion, a P/E ratio of 27.35 and a beta of 1.03. Karooooo has a 52-week low of $23.35 and a 52-week high of $50.54. The stock’s 50 day moving average price is $44.83 and its 200 day moving average price is $43.44. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.14.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings data on Tuesday, January 14th. The company reported $0.43 earnings per share for the quarter, beating 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, research analysts predict that Karooooo will post 1.57 EPS for the current 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.