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 May. As of May 31st, there was short interest totalling 62,600 shares, an increase of 33.5% from the May 15th total of 46,900 shares. Based on an average daily trading volume, of 27,700 shares, the short-interest ratio is currently 2.3 days. Approximately 0.8% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Raymond James upped their price target on Karooooo from $51.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, May 16th.

Karooooo Price Performance

Shares of Karooooo stock traded up $0.96 during trading on Tuesday, hitting $46.79. The stock had a trading volume of 71,809 shares, compared to its average volume of 39,571. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 29.99 and a beta of 1.15. Karooooo has a 12 month low of $25.80 and a 12 month high of $63.36. The business's 50-day moving average is $47.90 and its 200 day moving average is $46.04. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.14.

Karooooo (NASDAQ:KARO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.07. The firm had revenue of $65.12 million for the quarter, compared to analysts' expectations of $1.18 billion. Karooooo had a net margin of 19.87% and a return on equity of 30.29%. During the same quarter in the prior year, the firm posted $6.81 earnings per share. As a group, sell-side analysts anticipate that Karooooo will post 1.57 earnings per share for the current year.

Hedge Funds Weigh In On Karooooo

A number of institutional investors have recently made changes to their positions in KARO. New York State Common Retirement Fund bought a new position in Karooooo in the fourth quarter valued at $26,000. BNP Paribas Financial Markets bought a new position in shares of Karooooo during the 4th quarter valued at about $210,000. Lazard Asset Management LLC increased its position in shares of Karooooo by 17.5% during the 4th quarter. Lazard Asset Management LLC now owns 4,961 shares of the company's stock valued at $223,000 after purchasing an additional 740 shares during the last quarter. Nipun Capital L.P. bought a new position in shares of Karooooo during the 1st quarter valued at about $242,000. Finally, Northern Trust Corp bought a new position in Karooooo during the fourth quarter valued at approximately $340,000.

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.

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