Karooooo Ltd. (NASDAQ:KARO) Sees Significant Growth in Short Interest

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 70,200 shares, an increase of 32.7% from the January 31st total of 52,900 shares. Approximately 0.9% of the company's shares are sold short. Based on an average daily volume of 44,800 shares, the short-interest ratio is presently 1.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund acquired a new stake in Karooooo during the fourth quarter worth about $26,000. BNP Paribas Financial Markets acquired a new stake in Karooooo during the fourth quarter worth $210,000. 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 buying an additional 740 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Karooooo in the 3rd quarter valued at $216,000. Finally, Northern Trust Corp bought a new position in shares of Karooooo during the 4th quarter worth about $340,000.

Wall Street Analyst Weigh In

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

Karooooo Stock Up 1.1 %

NASDAQ:KARO traded up $0.45 during mid-day trading on Friday, reaching $42.85. The stock had a trading volume of 36,309 shares, compared to its average volume of 45,177. Karooooo has a fifty-two week low of $23.35 and a fifty-two week high of $50.54. The business's 50 day moving average is $46.37 and its 200 day moving average is $42.80. 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 stock has a market cap of $1.32 billion, a P/E ratio of 27.47 and a beta of 1.03.

Remove Ads

Karooooo (NASDAQ:KARO - Get Free Report) last issued its quarterly earnings results on Tuesday, January 14th. The company reported $0.43 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%. As a group, sell-side analysts predict that Karooooo will post 1.57 earnings per share for the current year.

About Karooooo

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.