Karooooo Ltd. (NASDAQ:KARO) Short Interest Up 29.7% in March

Karooooo Ltd. (NASDAQ:KAROGet Free Report) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 13,100 shares, a growth of 29.7% from the February 29th total of 10,100 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 8,100 shares, the short-interest ratio is currently 1.6 days.

Analysts Set New Price Targets

KARO has been the topic of a number of recent analyst reports. Morgan Stanley dropped their target price on shares of Karooooo from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Raymond James raised their price objective on shares of Karooooo from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th.

Get Our Latest Research Report on Karooooo

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KARO. Barclays PLC lifted its stake in shares of Karooooo by 191.8% in the 4th quarter. Barclays PLC now owns 7,641 shares of the company’s stock worth $186,000 after acquiring an additional 5,022 shares during the period. 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 worth $123,000 after acquiring an additional 454 shares during the period. Jupiter Asset Management Ltd. lifted its stake in shares of Karooooo by 17.9% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 196,873 shares of the company’s stock worth $3,920,000 after acquiring an additional 29,849 shares during the period. Schwartz Investment Counsel Inc. lifted its stake in shares of Karooooo by 2.0% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 51,685 shares of the company’s stock worth $1,029,000 after acquiring an additional 1,000 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Karooooo by 14.3% in the 1st quarter. Geode Capital Management LLC now owns 18,218 shares of the company’s stock worth $428,000 after acquiring an additional 2,277 shares during the period.

Karooooo Price Performance

Shares of Karooooo stock opened at $25.06 on Monday. Karooooo has a 1 year low of $18.59 and a 1 year high of $26.73. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.38 and a quick ratio of 1.34. The company’s fifty day moving average is $25.20 and its two-hundred day moving average is $24.27.

Karooooo (NASDAQ:KAROGet Free Report) last issued its quarterly earnings data on Monday, January 22nd. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. Karooooo had a net margin of 16.67% and a return on equity of 25.26%. The company had revenue of $57.36 million for the quarter, compared to the consensus estimate of $51.99 million. As a group, sell-side analysts forecast that Karooooo will post 1.21 earnings per share for the current fiscal year.

Karooooo Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for Karooooo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Karooooo and related companies with MarketBeat.com's FREE daily email newsletter.