Karooooo Ltd. (NASDAQ:KARO) Short Interest Up 7.7% in November

Karooooo Ltd. (NASDAQ:KARO) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 25,300 shares, a growth of 7.7% from the October 31st total of 23,500 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 34,400 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of Karooooo

A number of hedge funds have recently modified their holdings of KARO. Acadian Asset Management LLC raised its holdings in Karooooo by 50.6% in the 2nd quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock worth $116,000 after purchasing an additional 1,377 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Karooooo in the third quarter valued at approximately $216,000. Walleye Capital LLC acquired a new stake in Karooooo during the 3rd quarter worth $323,000. Gladius Capital Management LP raised its holdings in Karooooo by 124.2% in the 3rd quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock valued at $575,000 after acquiring an additional 8,041 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Karooooo by 23.3% in the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock valued at $520,000 after purchasing an additional 3,356 shares during the last quarter.

Karooooo Stock Up 8.0 %

NASDAQ KARO opened at $46.98 on Wednesday. The stock’s fifty day moving average price is $40.45 and its 200 day moving average price is $36.26. Karooooo has a 1 year low of $23.35 and a 1 year high of $47.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.18 and a quick ratio of 1.17.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $60.70 million during the quarter, compared to analysts’ expectations of $60.26 million. Karooooo had a return on equity of 29.39% and a net margin of 19.29%. As a group, analysts anticipate that Karooooo will post 1.61 EPS for the current fiscal year.

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.