Short Interest in Karooooo Ltd. (NASDAQ:KARO) Decreases By 36.3%

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 40,300 shares, a decline of 36.3% from the September 30th total of 63,300 shares. Based on an average daily trading volume, of 57,200 shares, the short-interest ratio is presently 0.7 days. Approximately 0.6% of the shares of the stock are sold short. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 57,200 shares, the short-interest ratio is presently 0.7 days.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen downgraded Karooooo from a "buy" rating to a "hold" rating in a research note on Saturday, October 18th. Zacks Research downgraded Karooooo from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 11th. Needham & Company LLC assumed coverage on Karooooo in a research note on Wednesday, July 16th. They issued a "buy" rating and a $60.00 price objective on the stock. Raymond James Financial reissued an "outperform" rating and issued a $60.00 price objective (up previously from $58.00) on shares of Karooooo in a research note on Thursday, July 24th. Finally, Weiss Ratings assumed coverage on Karooooo in a research note on Thursday, October 16th. They issued a "hold (c+)" rating on the stock. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $58.25.

View Our Latest Report on KARO

Karooooo Trading Up 0.1%

Shares of Karooooo stock traded up $0.04 on Friday, reaching $44.58. 32,019 shares of the company were exchanged, compared to its average volume of 70,929. The stock has a fifty day moving average price of $52.20 and a 200-day moving average price of $49.80. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 24.63 and a beta of 1.07. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.08. Karooooo has a fifty-two week low of $35.88 and a fifty-two week high of $63.36.

Karooooo (NASDAQ:KARO - Get Free Report) last announced its earnings results on Tuesday, October 14th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. The company had revenue of $76.16 million for the quarter, compared to analyst estimates of $73.45 million. Karooooo had a return on equity of 31.64% and a net margin of 19.90%. Karooooo has set its FY 2026 guidance at 1.830-2.000 EPS. On average, analysts expect that Karooooo will post 1.57 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of KARO. Telemark Asset Management LLC purchased a new position in shares of Karooooo during the second quarter valued at $11,028,000. Fiera Capital Corp purchased a new position in shares of Karooooo during the second quarter valued at $5,878,000. Marshall Wace LLP grew its holdings in shares of Karooooo by 699.1% during the second quarter. Marshall Wace LLP now owns 55,602 shares of the company's stock valued at $2,723,000 after buying an additional 48,644 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Karooooo during the second quarter valued at $1,378,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Karooooo by 50.1% during the second quarter. Acadian Asset Management LLC now owns 69,705 shares of the company's stock valued at $3,391,000 after buying an additional 23,251 shares in the last quarter.

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.

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