Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 69,800 shares, an increase of 39.9% from the March 15th total of 49,900 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 40,300 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Karooooo

Large investors have recently bought and sold shares of the business. Capricorn Fund Managers Ltd acquired a new position in Karooooo in the fourth quarter valued at approximately $6,146,000. Raymond James Financial Inc. acquired a new position in Karooooo in the fourth quarter valued at approximately $635,000. New York State Common Retirement Fund acquired a new position in Karooooo in the fourth quarter valued at approximately $26,000. Schwartz Investment Counsel Inc. lifted its holdings in Karooooo by 17.2% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 60,566 shares of the company's stock valued at $2,735,000 after buying an additional 8,881 shares during the period. Finally, Polen Capital Management LLC lifted its holdings in Karooooo by 24.8% in the fourth quarter. Polen Capital Management LLC now owns 13,273 shares of the company's stock valued at $599,000 after buying an additional 2,639 shares during the period.

Karooooo Trading Up 3.8 %

Shares of NASDAQ KARO traded up $1.60 during mid-day trading on Thursday, hitting $43.22. The company's stock had a trading volume of 5,289 shares, compared to its average volume of 31,178. 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 $1.34 billion, a price-to-earnings ratio of 27.70 and a beta of 1.03. The company's fifty day simple moving average is $42.26 and its 200-day simple moving average is $43.38. Karooooo has a one year low of $25.80 and a one year high of $50.54.

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.