Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

Key Points

• Short interest jumped 37% in March to 143,064 shares as of March 31, representing about 1.8% of shares sold short and a days-to-cover ratio of 4.2 (average daily volume ~34,121).
• Analyst sentiment has turned positive with multiple upgrades to Buy (Wall Street Zen, Weiss, Roth MKM), leaving the stock with six Buy ratings, one Hold and an average rating of Moderate Buy and an average target of $59.
• Institutional inflows increased—Geode (+56.6%) and JPMorgan (+216%) boosted stakes while Russell and Quantbot opened positions—and the shares recently traded at $52.02 with a $1.61B market cap after reporting Q earnings of $0.49 (beat $0.46) and setting FY2026 guidance of 1.876–2.049 EPS.

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 143,064 shares, a growth of 37.0% from the March 15th total of 104,462 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily volume of 34,121 shares, the days-to-cover ratio is currently 4.2 days.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Karooooo from a "hold" rating to a "buy" rating in a research report on Saturday. Weiss Ratings upgraded shares of Karooooo from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, January 27th. Finally, Roth Mkm assumed coverage on shares of Karooooo in a research report on Tuesday, February 17th. They issued a "buy" rating and a $62.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $59.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KARO. Geode Capital Management LLC boosted its stake in shares of Karooooo by 56.6% in the 2nd quarter. Geode Capital Management LLC now owns 29,892 shares of the company's stock valued at $1,464,000 after purchasing an additional 10,799 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Karooooo by 216.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,089 shares of the company's stock worth $396,000 after acquiring an additional 5,529 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Karooooo during the 2nd quarter worth approximately $1,378,000. New York State Common Retirement Fund boosted its stake in Karooooo by 465.6% during the 2nd quarter. New York State Common Retirement Fund now owns 3,258 shares of the company's stock worth $160,000 after acquiring an additional 2,682 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Karooooo during the 2nd quarter worth approximately $156,000.

Karooooo Trading Up 2.0%

Shares of NASDAQ KARO traded up $1.03 during mid-day trading on Wednesday, hitting $52.02. The company's stock had a trading volume of 76,153 shares, compared to its average volume of 33,796. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 28.12 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84. Karooooo has a one year low of $37.73 and a one year high of $63.36. The company's fifty day simple moving average is $48.08 and its 200-day simple moving average is $47.48.

Karooooo (NASDAQ:KARO - Get Free Report) last issued its earnings results on Tuesday, January 20th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. The company had revenue of $82.34 million for the quarter, compared to analyst estimates of $79.04 million. Karooooo had a net margin of 19.45% and a return on equity of 31.83%. Karooooo has set its FY 2026 guidance at 1.876-2.049 EPS. On average, sell-side analysts anticipate that Karooooo will post 1.57 earnings per share for the current fiscal year.

Karooooo Company Profile

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo's SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.

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