Karooooo Ltd. (NASDAQ:KARO) Short Interest Down 12.5% in May

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of KARO. New York State Common Retirement Fund purchased a new stake in Karooooo in the fourth quarter valued at approximately $26,000. BNP Paribas Financial Markets bought a new position in shares of Karooooo in the 4th quarter worth $210,000. Lazard Asset Management LLC raised 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 buying an additional 740 shares in the last quarter. Nipun Capital L.P. bought a new stake in shares of Karooooo during the 1st quarter worth $242,000. Finally, Northern Trust Corp purchased a new position in Karooooo in the fourth quarter worth $340,000.

Karooooo Price Performance

NASDAQ:KARO traded up $0.49 during trading hours on Friday, hitting $58.35. The stock had a trading volume of 45,917 shares, compared to its average volume of 34,034. The company has a 50 day simple moving average of $46.15 and a two-hundred day simple moving average of $45.53. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 37.40 and a beta of 1.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.24. Karooooo has a one year low of $25.80 and a one year high of $63.36.

Karooooo (NASDAQ:KARO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.07. The company had revenue of $65.12 million during the quarter, compared to analyst estimates of $1.18 billion. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. During the same quarter last year, the company earned $6.81 earnings per share. Research analysts forecast that Karooooo will post 1.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Raymond James increased their price target on shares of 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.