Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 69,800 shares, an increase of 39.9% from the March 15th total of 49,900 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 40,300 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Inflows and Outflows

Several 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 stake in shares of Karooooo during the fourth quarter valued at approximately $26,000. BNP Paribas Financial Markets acquired a new stake in Karooooo during the 4th quarter valued at $210,000. Lazard Asset Management LLC lifted 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 purchasing an additional 740 shares in the last quarter. Nipun Capital L.P. acquired a new stake in shares of Karooooo in the first quarter worth $242,000. Finally, Northern Trust Corp acquired a new stake in shares of Karooooo in the fourth quarter worth $340,000.

Analyst Upgrades and Downgrades

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

Karooooo Price Performance

Shares of NASDAQ KARO traded up $0.37 during trading on Friday, hitting $39.66. The company had a trading volume of 14,173 shares, compared to its average volume of 31,341. Karooooo has a 52 week low of $25.80 and a 52 week high of $50.54. The business's 50-day moving average is $42.74 and its 200 day moving average is $43.39. The company has a market cap of $1.23 billion, a P/E ratio of 25.42 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.24 and a current ratio of 1.25.

Karooooo (NASDAQ:KARO - Get Free Report) last announced its earnings results on Tuesday, January 14th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.05. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. Equities research analysts predict that Karooooo will post 1.57 earnings per share for the current fiscal 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.

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