Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

Karooooo Ltd. (NASDAQ:KARO) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 143,064 shares, a growth of 37.0% from the March 15th total of 104,462 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average daily volume of 34,121 shares, the short-interest ratio is currently 4.2 days.

Institutional Investors Weigh In On Karooooo

Hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp grew its stake in Karooooo by 159.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 804 shares of the company’s stock worth $46,000 after buying an additional 494 shares in the last quarter. Murphy & Mullick Capital Management Corp lifted its holdings in shares of Karooooo by 260.0% during the 3rd quarter. Murphy & Mullick Capital Management Corp now owns 900 shares of the company’s stock worth $51,000 after acquiring an additional 650 shares during the last quarter. Copeland Capital Management LLC bought a new stake in shares of Karooooo during the 3rd quarter worth $76,000. Fideuram Asset Management Ireland dac purchased a new position in Karooooo in the fourth quarter worth $80,000. Finally, Royal Bank of Canada grew its position in Karooooo by 852.9% in the fourth quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock worth $135,000 after acquiring an additional 2,644 shares in the last quarter.

Karooooo Price Performance

Shares of KARO stock traded down $1.74 on Thursday, reaching $50.28. The company’s stock had a trading volume of 119,999 shares, compared to its average volume of 36,043. The company has a market capitalization of $1.55 billion, a P/E ratio of 27.18 and a beta of 1.02. Karooooo has a 12-month low of $37.73 and a 12-month high of $63.36. The stock’s 50 day simple moving average is $48.12 and its 200-day simple moving average is $47.50. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06.

Karooooo (NASDAQ:KARO) last posted its earnings results on Tuesday, January 20th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Karooooo had a return on equity of 31.83% and a net margin of 19.45%.The business had revenue of $82.34 million during the quarter, compared to analysts’ expectations of $79.04 million. Karooooo has set its FY 2026 guidance at 1.876-2.049 EPS. As a group, equities analysts predict that Karooooo will post 1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on KARO shares. Wall Street Zen raised Karooooo from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Weiss Ratings raised shares of Karooooo from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, January 27th. Finally, Roth Mkm began coverage on shares of Karooooo in a research note on Tuesday, February 17th. They set a “buy” rating and a $62.00 price objective for the company. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Karooooo currently has an average rating of “Moderate Buy” and a consensus target price of $59.00.

About Karooooo

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.