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

Karooooo Ltd. (NASDAQ:KARO) saw a significant growth in short interest during the month of 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. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 43,300 shares, the short-interest ratio is currently 1.1 days.

Karooooo Stock Up 1.5 %

Shares of KARO traded up $0.66 during trading hours on Friday, hitting $45.40. 33,252 shares of the stock traded hands, compared to its average volume of 27,060. Karooooo has a 1-year low of $23.35 and a 1-year high of $50.54. The business has a fifty day moving average of $45.01 and a 200-day moving average of $40.08. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15.

Karooooo (NASDAQ:KARO) last released its earnings results on Tuesday, January 14th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. Karooooo had a return on equity of 29.39% and a net margin of 19.29%. Equities research analysts expect that Karooooo will post 1.61 earnings per share for the current year.

Hedge Funds Weigh In On Karooooo

Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its position in shares of Karooooo by 50.6% during the second quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock worth $116,000 after purchasing an additional 1,377 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Karooooo during the third quarter worth about $216,000. Walleye Capital LLC acquired a new stake in shares of Karooooo during the third quarter worth about $323,000. Renaissance Technologies LLC grew its holdings in shares of Karooooo by 23.3% during the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after buying an additional 3,356 shares in the last quarter. Finally, Gladius Capital Management LP grew its holdings in shares of Karooooo by 124.2% during the third quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock worth $575,000 after buying an additional 8,041 shares in the last quarter.

Wall Street Analyst Weigh In

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 report on Thursday.

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.