Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) was the target of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 46,900 shares, a decrease of 12.5% from the April 30th total of 53,600 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average trading volume of 27,200 shares, the short-interest ratio is presently 1.7 days.

Karooooo Stock Performance

Karooooo stock traded down $0.23 during midday trading on Thursday, hitting $57.30. The stock had a trading volume of 19,599 shares, compared to its average volume of 33,662. The firm's fifty day moving average is $45.51 and its two-hundred day moving average is $45.28. The company has a market capitalization of $1.77 billion, a PE ratio of 36.73 and a beta of 1.15. Karooooo has a 52-week low of $25.80 and a 52-week high of $63.36. 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 posted 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 business had revenue of $65.12 million during the quarter, compared to the consensus estimate of $1.18 billion. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. During the same period in the prior year, the company posted $6.81 EPS. On average, research analysts forecast that Karooooo will post 1.57 EPS for the current year.

Institutional Trading of Karooooo

Several institutional investors and hedge funds have recently made changes to their positions in the business. Jupiter Asset Management Ltd. lifted its position in shares of Karooooo by 0.6% during the fourth 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 last quarter. Capricorn Fund Managers Ltd lifted its position in shares of Karooooo by 8.0% during 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. Schwartz Investment Counsel Inc. lifted its position in shares of Karooooo by 17.2% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 60,566 shares of the company's stock worth $2,735,000 after purchasing an additional 8,881 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Karooooo by 77.9% during the first quarter. Acadian Asset Management LLC now owns 46,454 shares of the company's stock valued at $1,955,000 after buying an additional 20,347 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Karooooo by 32.4% during the fourth 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 period.

Wall Street Analysts Forecast Growth

Separately, Raymond James upped their target price on shares of Karooooo from $51.00 to $58.00 and gave the company an "outperform" rating in a research note 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.