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Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

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

Analyst Ratings Changes

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 report on Thursday, January 16th.

Check Out Our Latest Stock Report on KARO

Karooooo Stock Up 1.2 %

Shares of NASDAQ:KARO traded up $0.51 during trading on Wednesday, reaching $42.01. 12,705 shares of the stock were exchanged, compared to its average volume of 30,224. The stock has a fifty day moving average of $44.70 and a two-hundred day moving average of $43.49. Karooooo has a 1-year low of $23.94 and a 1-year high of $50.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.24. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 26.93 and a beta of 1.03.

Karooooo (NASDAQ:KARO - Get Free Report) last announced its quarterly earnings results 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%. Research analysts anticipate that Karooooo will post 1.57 earnings per share for the current fiscal year.

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Institutional Investors Weigh In On Karooooo

Several large investors have recently modified their holdings of the stock. New York State Common Retirement Fund bought a new position in Karooooo during the fourth quarter worth about $26,000. BNP Paribas Financial Markets bought a new stake in Karooooo during the 4th quarter valued at $210,000. Quadrature Capital Ltd purchased a new position in Karooooo during the 3rd quarter valued at about $216,000. Lazard Asset Management LLC boosted its position 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 during the period. Finally, Walleye Capital LLC bought a new stake in Karooooo during the 3rd quarter worth approximately $323,000.

Karooooo Company Profile

(Get Free Report)

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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