Short Interest in Rush Enterprises, Inc. (NASDAQ:RUSHA) Decreases By 12.3%

Rush Enterprises, Inc. (NASDAQ:RUSHA) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 2,763,070 shares, a decline of 12.3% from the December 31st total of 3,149,878 shares. Based on an average daily trading volume, of 381,177 shares, the short-interest ratio is currently 7.2 days. Approximately 4.1% of the company’s stock are short sold. Approximately 4.1% of the company’s stock are short sold. Based on an average daily trading volume, of 381,177 shares, the short-interest ratio is currently 7.2 days.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RUSHA shares. UBS Group started coverage on Rush Enterprises in a research note on Wednesday, January 28th. They set a “neutral” rating and a $70.00 target price for the company. Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a research report on Thursday, January 22nd. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Finally, Stephens dropped their price target on shares of Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.50.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. California State Teachers Retirement System raised its position in Rush Enterprises by 0.4% in the second quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock worth $2,955,000 after purchasing an additional 208 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Rush Enterprises by 8.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,969 shares of the company’s stock worth $159,000 after buying an additional 219 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Rush Enterprises by 3.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,392 shares of the company’s stock worth $329,000 after buying an additional 237 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Rush Enterprises by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 35,188 shares of the company’s stock worth $1,897,000 after buying an additional 251 shares during the period. Finally, Corbyn Investment Management Inc. MD boosted its stake in Rush Enterprises by 0.9% in the 2nd quarter. Corbyn Investment Management Inc. MD now owns 28,058 shares of the company’s stock valued at $1,445,000 after buying an additional 257 shares in the last quarter. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Price Performance

Shares of NASDAQ:RUSHA opened at $70.52 on Thursday. The firm’s 50 day moving average is $58.33 and its two-hundred day moving average is $55.18. The firm has a market capitalization of $5.44 billion, a P/E ratio of 20.93, a PEG ratio of 0.83 and a beta of 0.92. The company has a current ratio of 1.37, a quick ratio of 0.34 and a debt-to-equity ratio of 0.16. Rush Enterprises has a 52 week low of $45.67 and a 52 week high of $70.78.

Rush Enterprises Company Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.