Karooooo Ltd. (NASDAQ:KARO - Get Free Report) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 52,900 shares, a decrease of 27.2% from the January 15th total of 72,700 shares. Based on an average daily volume of 44,100 shares, the short-interest ratio is presently 1.2 days. Currently, 0.7% of the company's stock are sold short.
Analyst Ratings Changes
Separately, Raymond James reaffirmed an "outperform" rating and set a $51.00 price target (up from $46.00) on shares of Karooooo in a research report on Thursday, January 16th.
View Our Latest Stock Analysis on KARO
Karooooo Price Performance
Shares of KARO stock traded down $1.90 during mid-day trading on Thursday, hitting $46.71. 50,475 shares of the stock were exchanged, compared to its average volume of 48,884. The company has a market cap of $1.44 billion, a PE ratio of 29.94 and a beta of 1.02. Karooooo has a 52-week low of $23.35 and a 52-week high of $50.54. The firm has a fifty day moving average of $46.67 and a 200 day moving average of $42.19. 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 - Get Free Report) last released its earnings results on Tuesday, January 14th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.05. Karooooo had a net margin of 19.87% and a return on equity of 30.29%. Research analysts anticipate that Karooooo will post 1.57 earnings per share for the current year.
Institutional Trading of 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 stake in shares of Karooooo during the 4th quarter worth approximately $26,000. BNP Paribas Financial Markets acquired a new stake in Karooooo in the 4th quarter valued at approximately $210,000. Quadrature Capital Ltd acquired a new stake in Karooooo in the 3rd quarter valued at approximately $216,000. Lazard Asset Management LLC increased its holdings in Karooooo by 17.5% in 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 acquired a new stake in Karooooo in the 3rd quarter valued at 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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