Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

Karooooo Ltd. (NASDAQ:KARO) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 45,900 shares, an increase of 18.6% from the December 15th total of 38,700 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average trading volume of 43,300 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Investors Weigh In On Karooooo

Hedge funds have recently added to or reduced their stakes in the stock. Capricorn Fund Managers Ltd acquired a new position in shares of Karooooo during the fourth quarter worth approximately $6,146,000. Renaissance Technologies LLC boosted its position in Karooooo by 23.3% during the 2nd quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after acquiring an additional 3,356 shares during the period. Gladius Capital Management LP grew its stake in shares of Karooooo by 124.2% in the third quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock worth $575,000 after purchasing an additional 8,041 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Karooooo during the third quarter valued at $323,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Karooooo during the third quarter valued at about $216,000.

Analysts Set New Price Targets

Separately, Raymond James reissued an “outperform” rating and set a $51.00 price objective (up from $46.00) on shares of Karooooo in a report on Thursday.

Karooooo Stock Up 1.5 %

Karooooo stock traded up $0.66 during mid-day trading on Friday, reaching $45.40. The company’s stock had a trading volume of 33,252 shares, compared to its average volume of 27,060. Karooooo has a twelve month low of $23.35 and a twelve month high of $50.54. The business has a 50 day moving average price of $45.01 and a 200-day moving average price of $40.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.18.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings data on Tuesday, January 14th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. Karooooo had a net margin of 19.29% and a return on equity of 29.39%. As a group, analysts expect that Karooooo will post 1.61 earnings per share for the current 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.