Short Interest in Karooooo Ltd. (NASDAQ:KARO) Increases By 18.6%

Karooooo Ltd. (NASDAQ:KARO) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 45,900 shares, a growth of 18.6% from the December 15th total of 38,700 shares. Based on an average trading volume of 43,300 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.6% of the shares of the stock are short sold.

Institutional Investors Weigh In On Karooooo

Hedge funds and other institutional investors have recently modified their holdings of the company. Capricorn Fund Managers Ltd purchased a new position in shares of Karooooo during the fourth quarter valued at approximately $6,146,000. Walleye Capital LLC acquired a new position in Karooooo in the 3rd quarter valued at $323,000. Gladius Capital Management LP lifted its stake in shares of Karooooo by 124.2% during the 3rd quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock worth $575,000 after purchasing an additional 8,041 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Karooooo during the third quarter worth $216,000. Finally, Renaissance Technologies LLC grew its position in shares of Karooooo by 23.3% in the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock valued at $520,000 after purchasing an additional 3,356 shares during the period.

Analyst Ratings Changes

Separately, Raymond James restated an “outperform” rating and set a $51.00 target price (up previously from $46.00) on shares of Karooooo in a research report on Thursday.

Karooooo Stock Performance

Shares of NASDAQ:KARO opened at $45.40 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average price is $45.01 and its two-hundred day moving average price is $40.08. Karooooo has a one year low of $23.35 and a one year high of $50.54.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings data on Tuesday, January 14th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. Karooooo had a return on equity of 29.39% and a net margin of 19.29%. Sell-side analysts forecast that Karooooo will post 1.61 EPS for the current fiscal year.

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.