Karooooo Ltd. (NASDAQ:KARO) Sees Large Decline in Short Interest

Karooooo Ltd. (NASDAQ:KARO) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 23,500 shares, a decrease of 36.1% from the October 15th total of 36,800 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily volume of 36,000 shares, the short-interest ratio is currently 0.7 days.

Karooooo Stock Up 3.8 %

Shares of NASDAQ:KARO traded up $1.46 during midday trading on Friday, reaching $39.60. The company’s stock had a trading volume of 46,675 shares, compared to its average volume of 19,581. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $39.81 and a 200-day moving average of $35.05. The firm has a market capitalization of $846.65 million, a P/E ratio of 26.94 and a beta of 1.01. Karooooo has a 12-month low of $23.35 and a 12-month high of $45.99.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Karooooo had a net margin of 19.29% and a return on equity of 29.39%. The business had revenue of $60.70 million for the quarter, compared to analysts’ expectations of $60.26 million. On average, research analysts anticipate that Karooooo will post 1.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KARO. Jupiter Asset Management Ltd. raised its holdings in Karooooo by 5.4% in the second quarter. Jupiter Asset Management Ltd. now owns 209,097 shares of the company’s stock worth $6,001,000 after buying an additional 10,705 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC raised its holdings in Karooooo by 1.2% in the 2nd quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 175,349 shares of the company’s stock worth $5,138,000 after acquiring an additional 2,000 shares during the last quarter. Swedbank AB lifted its position in Karooooo by 26.0% in the 2nd quarter. Swedbank AB now owns 120,000 shares of the company’s stock valued at $3,516,000 after acquiring an additional 24,746 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Karooooo by 23.3% during the 2nd 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 last quarter. Finally, Gladius Capital Management LP increased its holdings in shares of Karooooo by 124.2% in 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 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.