Short Interest in Karooooo Ltd. (NASDAQ:KARO) Drops By 36.3%

Karooooo Ltd. (NASDAQ:KARO) saw a large drop in short interest in October. As of October 15th, there was short interest totaling 40,300 shares, a drop of 36.3% from the September 30th total of 63,300 shares. Based on an average daily volume of 57,200 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.6% of the shares of the company are sold short. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 57,200 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Ratings Changes

KARO has been the subject of a number of recent research reports. UBS Group assumed coverage on Karooooo in a research note on Friday, August 29th. They issued a “buy” rating and a $60.00 target price for the company. Needham & Company LLC began coverage on shares of Karooooo in a report on Wednesday, July 16th. They issued a “buy” rating and a $60.00 price target on the stock. Weiss Ratings began coverage on shares of Karooooo in a research note on Thursday, October 16th. They issued a “hold (c+)” rating for the company. Wall Street Zen downgraded shares of Karooooo from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Zacks Research lowered shares of Karooooo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 11th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Karooooo has an average rating of “Moderate Buy” and an average price target of $58.25.

Karooooo Price Performance

Shares of NASDAQ KARO traded down $0.37 during midday trading on Monday, reaching $44.21. 73,773 shares of the company traded hands, compared to its average volume of 70,929. Karooooo has a 12 month low of $35.88 and a 12 month high of $63.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.79 and a current ratio of 0.80. The stock’s 50-day simple moving average is $52.08 and its 200-day simple moving average is $49.91. The firm has a market cap of $1.37 billion, a PE ratio of 24.70 and a beta of 1.07.

Karooooo (NASDAQ:KARO) last posted its earnings results on Tuesday, October 14th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. Karooooo had a net margin of 19.90% and a return on equity of 31.64%. The business had revenue of $76.16 million for the quarter, compared to analyst estimates of $73.45 million. Karooooo has set its FY 2026 guidance at 1.830-2.000 EPS. As a group, equities analysts anticipate that Karooooo will post 1.57 earnings per share for the current fiscal year.

Institutional Trading of Karooooo

Several hedge funds have recently modified their holdings of KARO. Copeland Capital Management LLC bought a new position in Karooooo during the third quarter worth about $76,000. Quantbot Technologies LP acquired a new stake in shares of Karooooo in the 2nd quarter valued at approximately $156,000. New York State Common Retirement Fund boosted its stake in Karooooo by 465.6% during the 2nd quarter. New York State Common Retirement Fund now owns 3,258 shares of the company’s stock worth $160,000 after acquiring an additional 2,682 shares during the last quarter. State of Tennessee Department of Treasury bought a new position in Karooooo during the 2nd quarter worth approximately $214,000. Finally, BNP Paribas Financial Markets grew its holdings in Karooooo by 154.5% during the second quarter. BNP Paribas Financial Markets now owns 5,045 shares of the company’s stock valued at $247,000 after purchasing an additional 3,063 shares during the period.

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.