Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

Karooooo Ltd. (NASDAQ:KARO) was the recipient of a large decline in short interest in March. As of March 13th, there was short interest totaling 104,462 shares, a decline of 13.7% from the February 26th total of 121,017 shares. Based on an average daily trading volume, of 43,131 shares, the short-interest ratio is currently 2.4 days. Approximately 1.3% of the company’s stock are sold short.

Hedge Funds Weigh In On Karooooo

A number of hedge funds have recently added to or reduced their stakes in KARO. Jones Financial Companies Lllp lifted its position in Karooooo by 159.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 804 shares of the company’s stock valued at $46,000 after acquiring an additional 494 shares in the last quarter. Murphy & Mullick Capital Management Corp boosted its stake in Karooooo by 260.0% during the 3rd quarter. Murphy & Mullick Capital Management Corp now owns 900 shares of the company’s stock valued at $51,000 after purchasing an additional 650 shares during the last quarter. Copeland Capital Management LLC bought a new stake in shares of Karooooo in the 3rd quarter worth $76,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Karooooo in the 4th quarter worth $80,000. Finally, Royal Bank of Canada raised its stake in shares of Karooooo by 852.9% in the fourth quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock worth $135,000 after purchasing an additional 2,644 shares during the last quarter.

Karooooo Stock Performance

Shares of Karooooo stock opened at $47.37 on Tuesday. Karooooo has a 1 year low of $35.88 and a 1 year high of $63.36. The firm’s 50-day moving average is $47.61 and its 200 day moving average is $47.87. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 25.61 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84.

Karooooo (NASDAQ:KARO) last released its quarterly earnings data on Tuesday, January 20th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $82.34 million during the quarter, compared to analyst estimates of $79.04 million. Karooooo had a net margin of 19.45% and a return on equity of 31.83%. Karooooo has set its FY 2026 guidance at 1.876-2.049 EPS. Sell-side analysts anticipate that Karooooo will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Karooooo from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Roth Mkm initiated coverage on Karooooo in a research note on Tuesday, February 17th. They issued a “buy” rating and a $62.00 price target on the stock. Finally, Weiss Ratings raised Karooooo from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 27th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Karooooo Company Profile

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.