Karooooo Ltd. (NASDAQ:KARO) Short Interest Down 36.1% in October

Karooooo Ltd. (NASDAQ:KARO) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 23,500 shares, a decline of 36.1% from the October 15th total of 36,800 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 36,000 shares, the days-to-cover ratio is presently 0.7 days.

Karooooo Stock Performance

Shares of NASDAQ KARO traded up $1.46 during mid-day trading on Friday, hitting $39.60. The company had a trading volume of 46,675 shares, compared to its average volume of 19,581. The company has a market capitalization of $846.65 million, a price-to-earnings ratio of 26.94 and a beta of 1.01. Karooooo has a 1 year low of $23.35 and a 1 year high of $45.99. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average price is $39.81 and its 200-day moving average price is $35.05.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $60.70 million during the quarter, compared to analyst estimates of $60.26 million. Karooooo had a return on equity of 29.39% and a net margin of 19.29%. On average, sell-side analysts forecast that Karooooo will post 1.61 earnings per share for the current year.

Institutional Investors Weigh In On Karooooo

Several hedge funds have recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. lifted its stake in shares of Karooooo by 2.6% in the 1st quarter. Jupiter Asset Management Ltd. now owns 198,392 shares of the company’s stock valued at $4,972,000 after acquiring an additional 5,002 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Karooooo in the 1st quarter valued at about $67,000. Swedbank AB bought a new stake in shares of Karooooo in the 1st quarter valued at about $2,387,000. Schwarz Dygos Wheeler Investment Advisors LLC lifted its stake in shares of Karooooo by 1.2% in the 2nd quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 175,349 shares of the company’s stock valued at $5,138,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Karooooo by 23.3% in the 2nd quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock valued at $520,000 after acquiring an additional 3,356 shares during the last quarter.

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.