Karooooo Ltd. (NASDAQ:KARO) Short Interest Down 13.7% in March

Karooooo Ltd. (NASDAQ:KARO) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 104,462 shares, a decrease of 13.7% from the February 26th total of 121,017 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average trading volume of 43,131 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Investors Weigh In On Karooooo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KARO. Lazard Asset Management LLC grew its position in shares of Karooooo by 7.5% during the third quarter. Lazard Asset Management LLC now owns 6,139 shares of the company’s stock worth $351,000 after acquiring an additional 430 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Karooooo by 159.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 804 shares of the company’s stock valued at $46,000 after acquiring an additional 494 shares during the period. Murphy & Mullick Capital Management Corp raised its position in Karooooo by 260.0% in the 3rd quarter. Murphy & Mullick Capital Management Corp now owns 900 shares of the company’s stock valued at $51,000 after purchasing an additional 650 shares during the last quarter. Bank of America Corp DE raised its position in Karooooo by 17.2% in the 2nd quarter. Bank of America Corp DE now owns 5,100 shares of the company’s stock valued at $250,000 after purchasing an additional 750 shares during the last quarter. Finally, Harbour Capital Advisors LLC boosted its stake in Karooooo by 16.7% during the 4th quarter. Harbour Capital Advisors LLC now owns 5,425 shares of the company’s stock worth $242,000 after purchasing an additional 775 shares during the period.

Karooooo Stock Performance

NASDAQ KARO traded up $0.56 during trading hours on Wednesday, hitting $50.40. The company had a trading volume of 9,821 shares, compared to its average volume of 43,903. The business has a 50 day moving average of $47.71 and a 200-day moving average of $47.84. The company has a market cap of $1.56 billion, a PE ratio of 27.24 and a beta of 1.07. Karooooo has a 1-year low of $35.88 and a 1-year high of $63.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.84 and a current ratio of 0.84.

Karooooo (NASDAQ:KARO) last posted its earnings results on Tuesday, January 20th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $82.34 million for the quarter, compared to analysts’ expectations of $79.04 million. Karooooo had a return on equity of 31.83% and a net margin of 19.45%.Karooooo has set its FY 2026 guidance at 1.876-2.049 EPS. As a group, equities research analysts expect that Karooooo will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings raised Karooooo from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 27th. Roth Mkm assumed coverage on Karooooo in a report on Tuesday, February 17th. They issued a “buy” rating and a $62.00 price target for the company. Finally, Wall Street Zen lowered shares of Karooooo from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.00.

About Karooooo

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.