Short Interest in Karooooo Ltd. (NASDAQ:KARO) Decreases By 27.2%

Karooooo Ltd. (NASDAQ:KARO) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 52,900 shares, a decrease of 27.2% from the January 15th total of 72,700 shares. Based on an average trading volume of 44,100 shares, the short-interest ratio is currently 1.2 days. Approximately 0.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Raymond James reiterated an “outperform” rating and issued a $51.00 price objective (up previously from $46.00) on shares of Karooooo in a research report on Thursday, January 16th.

Karooooo Price Performance

Shares of KARO stock traded down $0.21 on Friday, reaching $48.06. The company’s stock had a trading volume of 32,361 shares, compared to its average volume of 49,397. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. Karooooo has a 12-month low of $23.35 and a 12-month high of $50.54. The company has a market capitalization of $1.48 billion, a P/E ratio of 30.81 and a beta of 1.02. The stock’s 50 day simple moving average is $46.54 and its 200-day simple moving average is $41.95.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings data on Tuesday, January 14th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. As a group, equities analysts predict that Karooooo will post 1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Karooooo

A number of large investors have recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. raised its position in Karooooo by 0.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 236,972 shares of the company’s stock valued at $10,699,000 after purchasing an additional 1,387 shares in the last quarter. Capricorn Fund Managers Ltd purchased a new stake in Karooooo during the fourth quarter valued at about $6,146,000. Schwartz Investment Counsel Inc. raised its position in Karooooo by 17.2% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 60,566 shares of the company’s stock valued at $2,735,000 after purchasing an additional 8,881 shares in the last quarter. Marshall Wace LLP raised its position in 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 purchasing an additional 9,552 shares in the last quarter. Finally, Gladius Capital Management LP raised its position in Karooooo by 124.2% during the third quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock valued at $575,000 after purchasing an additional 8,041 shares in the last quarter.

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.