Karooooo Ltd. (NASDAQ:KARO – Get Free Report) 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 – Get Free Report) 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
Read Our Latest Research Report on Karooooo
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.
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