Karooooo Ltd. (NASDAQ:KARO) Short Interest Up 89.7% in October

by · The Markets Daily

Karooooo Ltd. (NASDAQ:KARO – Get Free Report) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 36,800 shares, an increase of 89.7% from the September 30th total of 19,400 shares. Based on an average trading volume of 38,200 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.5% of the shares of the stock are short sold.

Karooooo Trading Down 0.2 %

NASDAQ KARO traded down $0.09 during trading on Monday, reaching $39.83. 21,073 shares of the stock traded hands, compared to its average volume of 18,524. The firm has a market cap of $851.57 million, a price-to-earnings ratio of 31.36 and a beta of 1.01. The stock’s 50-day moving average price is $38.93 and its 200 day moving average price is $33.93. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 0.15. Karooooo has a fifty-two week low of $22.52 and a fifty-two week high of $45.99.

Wall Street Analyst Weigh In

Separately, Morgan Stanley raised their price target on Karooooo from $31.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, July 11th.

Get Our Latest Stock Report on Karooooo

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in Karooooo by 50.6% during the second quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock valued at $116,000 after purchasing an additional 1,377 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC lifted its stake in Karooooo by 1.2% in the second quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 175,349 shares of the company’s stock valued at $5,138,000 after buying an additional 2,000 shares in the last quarter. Renaissance Technologies LLC lifted its stake in 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 buying an additional 3,356 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in Karooooo by 2.6% in the first quarter. Jupiter Asset Management Ltd. now owns 198,392 shares of the company’s stock valued at $4,972,000 after buying an additional 5,002 shares in the last quarter. Finally, Swedbank AB lifted its stake in Karooooo by 26.0% in the second quarter. Swedbank AB now owns 120,000 shares of the company’s stock valued at $3,516,000 after buying an additional 24,746 shares in the last quarter.

About Karooooo

(Get Free Report)

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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