Short Interest in Karooooo Ltd. (NASDAQ:KARO) Decreases By 27.2%

Karooooo Ltd. (NASDAQ:KARO) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 52,900 shares, a decrease of 27.2% from the January 15th total of 72,700 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily volume of 44,100 shares, the days-to-cover ratio is presently 1.2 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Karooooo

Several institutional investors have recently modified their holdings of KARO. Northern Trust Corp bought a new position in Karooooo during the fourth quarter valued at $340,000. Marshall Wace LLP grew its holdings in Karooooo by 32.4% during the fourth quarter. Marshall Wace LLP now owns 39,021 shares of the company’s stock valued at $1,762,000 after purchasing an additional 9,552 shares during the period. Raymond James Financial Inc. bought a new position in Karooooo during the fourth quarter valued at $635,000. JPMorgan Chase & Co. grew its holdings in Karooooo by 1,727.0% during the fourth quarter. JPMorgan Chase & Co. now owns 8,934 shares of the company’s stock valued at $403,000 after purchasing an additional 8,445 shares during the period. Finally, Polen Capital Management LLC grew its holdings in Karooooo by 24.8% during the fourth quarter. Polen Capital Management LLC now owns 13,273 shares of the company’s stock valued at $599,000 after purchasing an additional 2,639 shares during the period.

Karooooo Stock Performance

Shares of KARO stock traded down $0.21 during trading on Friday, hitting $48.06. The company’s stock had a trading volume of 32,361 shares, compared to its average volume of 49,397. The company has a market cap of $1.48 billion, a PE ratio of 30.81 and a beta of 1.02. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average of $46.54 and a 200-day moving average of $41.95. Karooooo has a 52 week low of $23.35 and a 52 week high of $50.54.

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

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.