Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

Karooooo Ltd. (NASDAQ:KARO) was the target of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 49,900 shares, a decline of 37.6% from the February 28th total of 80,000 shares. Based on an average trading volume of 40,400 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.6% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

Karooooo Stock Down 0.9 %

Shares of NASDAQ:KARO traded down $0.38 during midday trading on Friday, reaching $42.66. The company had a trading volume of 15,180 shares, compared to its average volume of 30,217. The stock has a market capitalization of $1.32 billion, a P/E ratio of 27.35 and a beta of 1.03. The stock’s fifty day moving average price is $44.83 and its 200-day moving average price is $43.35. 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 $23.35 and a one year high of $50.54.

Karooooo (NASDAQ:KARO) last released its earnings results on Tuesday, January 14th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.05. Karooooo had a net margin of 19.87% and a return on equity of 30.29%. Equities research analysts expect that Karooooo will post 1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of KARO. Capricorn Fund Managers Ltd bought a new stake in shares of Karooooo in the 4th quarter valued at approximately $6,146,000. New York State Common Retirement Fund bought a new stake in Karooooo during the fourth quarter valued at $26,000. Schwartz Investment Counsel Inc. increased its stake 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 during the last quarter. Polen Capital Management LLC raised its holdings in shares of Karooooo by 24.8% during the fourth quarter. Polen Capital Management LLC now owns 13,273 shares of the company’s stock worth $599,000 after purchasing an additional 2,639 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its position in shares of Karooooo by 0.6% in the 4th quarter. Jupiter Asset Management Ltd. now owns 236,972 shares of the company’s stock worth $10,699,000 after buying an additional 1,387 shares during the last quarter.

About Karooooo

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.