Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

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.

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.

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

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.