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 TargetsA 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 KAROKarooooo 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 OutflowsA 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 (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.Featured StoriesFive stocks we like better than Karooooo3 REITs to Buy and Hold for the Long TermIs Lemonade Stock Set for a Big Squeeze After Earnings?Are Penny Stocks a Good Fit for Your Portfolio?Caterpillar Stock Could Top $650 by Year’s EndComparing and Trading High PE Ratio StocksServiceNow’s 5-for-1 Split Is a Signal for Investors to BuyThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Karooooo Right Now?Before you consider Karooooo, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Karooooo wasn't on the list.While Karooooo currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here