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

Karooooo Ltd. (NASDAQ:KARO) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 23,500 shares, a decrease of 36.1% from the October 15th total of 36,800 shares. Based on an average daily trading volume, of 36,000 shares, the short-interest ratio is presently 0.7 days. Currently, 0.3% of the shares of the stock are short sold.

Karooooo Price Performance

Shares of Karooooo stock traded up $1.46 on Friday, hitting $39.60. 46,675 shares of the company traded hands, compared to its average volume of 19,581. Karooooo has a 12-month low of $23.35 and a 12-month high of $45.99. The firm’s 50-day simple moving average is $39.81 and its 200 day simple moving average is $35.05. The company has a market cap of $846.65 million, a P/E ratio of 26.94 and a beta of 1.01. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15.

Karooooo (NASDAQ:KARO) last released its quarterly earnings results on Tuesday, October 15th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Karooooo had a return on equity of 29.39% and a net margin of 19.29%. The business had revenue of $60.70 million for the quarter, compared to the consensus estimate of $60.26 million. Analysts expect that Karooooo will post 1.61 earnings per share for the current fiscal year.

Institutional Trading of Karooooo

A number of hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC bought a new position in Karooooo during the first quarter valued at approximately $67,000. Quadrature Capital Ltd purchased a new stake in shares of Karooooo in the 3rd quarter valued at $216,000. Walleye Capital LLC bought a new position in shares of Karooooo during the 3rd quarter valued at $323,000. Renaissance Technologies LLC raised its position in Karooooo by 23.3% in the 2nd quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after purchasing an additional 3,356 shares during the period. Finally, Gladius Capital Management LP lifted its stake in Karooooo by 124.2% in the third quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock worth $575,000 after purchasing an additional 8,041 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.