Karooooo Ltd. (NASDAQ:KARO) Sees Large Increase in Short Interest

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) was the recipient of a significant increase in short interest during 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. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily volume of 27,700 shares, the short-interest ratio is presently 2.3 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Jupiter Asset Management Ltd. increased its stake in Karooooo by 0.6% in the 4th quarter. Jupiter Asset Management Ltd. now owns 236,972 shares of the company's stock worth $10,699,000 after purchasing an additional 1,387 shares during the period. Capricorn Fund Managers Ltd grew its holdings in shares of Karooooo by 8.0% in the first quarter. Capricorn Fund Managers Ltd now owns 143,470 shares of the company's stock worth $6,103,000 after purchasing an additional 10,586 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Karooooo by 77.9% in the first quarter. Acadian Asset Management LLC now owns 46,454 shares of the company's stock worth $1,955,000 after buying an additional 20,347 shares during the period. Marshall Wace LLP raised its holdings in 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 buying an additional 9,552 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Karooooo during the 4th quarter valued at $635,000.

Karooooo Price Performance

NASDAQ KARO traded up $0.06 on Friday, reaching $47.34. 126,330 shares of the company's stock traded hands, compared to its average volume of 40,075. The stock has a market cap of $1.46 billion, a PE ratio of 28.87 and a beta of 1.15. Karooooo has a 12 month low of $25.80 and a 12 month high of $63.36. The stock has a 50-day simple moving average of $48.29 and a 200 day simple moving average of $46.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.14 and a quick ratio of 1.14.

Karooooo (NASDAQ:KARO - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. The company had revenue of $65.12 million for the quarter, compared to analyst estimates of $1.18 billion. Karooooo had a net margin of 20.17% and a return on equity of 30.98%. During the same quarter last year, the firm earned $6.81 EPS. As a group, research analysts predict that Karooooo will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

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

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.