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

Karooooo Ltd. (NASDAQ:KARO) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 49,900 shares, a decline of 37.6% from the February 28th total of 80,000 shares. Based on an average daily volume of 40,400 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.6% of the company’s stock are sold short.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC lifted its holdings in shares of Karooooo by 6.8% during the fourth quarter. Squarepoint Ops LLC now owns 9,494 shares of the company’s stock valued at $429,000 after purchasing an additional 602 shares in the last quarter. 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 worth $223,000 after buying an additional 740 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Karooooo in the 4th quarter worth about $210,000. Northern Trust Corp bought a new position in Karooooo during the 4th quarter valued at about $340,000. Finally, Marshall Wace LLP boosted its holdings in shares of Karooooo by 32.4% during the 4th quarter. Marshall Wace LLP now owns 39,021 shares of the company’s stock valued at $1,762,000 after acquiring an additional 9,552 shares during the last quarter.

Karooooo Stock Down 0.3 %

Shares of KARO traded down $0.12 during mid-day trading on Monday, reaching $42.54. The company had a trading volume of 16,613 shares, compared to its average volume of 30,163. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.24 and a current ratio of 1.25. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 27.27 and a beta of 1.03. The firm has a 50-day moving average price of $44.83 and a 200 day moving average price of $43.44. Karooooo has a 52 week low of $23.35 and a 52 week high of $50.54.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings results on Tuesday, January 14th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. On average, sell-side analysts forecast that Karooooo will post 1.57 EPS 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.