Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

Karooooo Ltd. (NASDAQ:KARO) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totalling 15,500 shares, a drop of 8.8% from the April 15th total of 17,000 shares. Based on an average daily volume of 8,000 shares, the short-interest ratio is presently 1.9 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Jupiter Asset Management Ltd. grew its stake in shares of Karooooo by 17.9% in the third quarter. Jupiter Asset Management Ltd. now owns 196,873 shares of the company’s stock valued at $3,920,000 after buying an additional 29,849 shares in the last quarter. Gladius Capital Management LP increased its stake in shares of Karooooo by 7.9% in the third quarter. Gladius Capital Management LP now owns 6,197 shares of the company’s stock valued at $123,000 after purchasing an additional 454 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Karooooo during the first quarter valued at $67,000.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Raymond James boosted their price target on Karooooo from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley reiterated an “overweight” rating and issued a $31.00 price objective on shares of Karooooo in a research report on Monday, April 22nd.

Karooooo Trading Up 5.5 %

Shares of KARO traded up $1.50 on Friday, reaching $29.00. The stock had a trading volume of 3,638 shares, compared to its average volume of 7,438. The firm has a 50-day moving average of $26.80 and a 200 day moving average of $25.48. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.38. Karooooo has a twelve month low of $18.59 and a twelve month high of $32.00.

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.