Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

Karooooo Ltd. (NASDAQ:KARO) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 18,800 shares, a growth of 12.6% from the May 31st total of 16,700 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 8,300 shares, the days-to-cover ratio is presently 2.3 days.

Karooooo Stock Performance

KARO stock traded up $0.36 during midday trading on Monday, hitting $29.66. The company had a trading volume of 6,640 shares, compared to its average volume of 8,350. Karooooo has a 52 week low of $18.59 and a 52 week high of $37.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.55 and a current ratio of 1.55. The stock’s 50 day moving average price is $29.60 and its 200 day moving average price is $26.73.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings results on Wednesday, May 15th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Karooooo had a net margin of 17.54% and a return on equity of 27.24%. The company had revenue of $57.64 million during the quarter, compared to analyst estimates of $55.54 million. As a group, sell-side analysts expect that Karooooo will post 1.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Morgan Stanley reaffirmed an “overweight” rating and set a $31.00 target price on shares of Karooooo in a report on Monday, April 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KARO. Swedbank AB bought a new stake in shares of Karooooo during the 1st quarter valued at about $2,387,000. Jupiter Asset Management Ltd. grew its holdings in shares of Karooooo by 2.6% during the 1st quarter. Jupiter Asset Management Ltd. now owns 198,392 shares of the company’s stock worth $4,972,000 after acquiring an additional 5,002 shares during the period. Acadian Asset Management LLC bought a new position in shares of Karooooo in the 1st quarter worth approximately $67,000. Finally, Gladius Capital Management LP lifted its stake in shares of Karooooo by 7.9% in the 3rd quarter. Gladius Capital Management LP now owns 6,197 shares of the company’s stock valued at $123,000 after purchasing an additional 454 shares during the period.

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.