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

Rush Enterprises, Inc. (NASDAQ:RUSHA) was the target of a large decline in short interest in 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 volume of 381,177 shares, the short-interest ratio is currently 7.2 days. Currently, 4.1% of the company’s stock are sold short. Currently, 4.1% of the company’s stock are sold short. Based on an average daily volume of 381,177 shares, the short-interest ratio is currently 7.2 days.

Rush Enterprises Stock Performance

Shares of NASDAQ RUSHA opened at $67.04 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.34 and a current ratio of 1.37. The stock has a 50 day moving average price of $57.65 and a 200 day moving average price of $54.95. The stock has a market capitalization of $5.17 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 0.79 and a beta of 0.92. Rush Enterprises has a 52 week low of $45.67 and a 52 week high of $67.08.

Institutional Trading of Rush Enterprises

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Rush Enterprises by 0.3% in the 2nd quarter. State Street Corp now owns 2,359,238 shares of the company’s stock valued at $121,524,000 after acquiring an additional 6,994 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in Rush Enterprises by 14.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,179,236 shares of the company’s stock valued at $63,054,000 after purchasing an additional 148,363 shares during the last quarter. American Century Companies Inc. lifted its stake in Rush Enterprises by 38.6% in the 3rd quarter. American Century Companies Inc. now owns 1,173,429 shares of the company’s stock valued at $62,743,000 after purchasing an additional 326,917 shares during the last quarter. Jennison Associates LLC grew its holdings in Rush Enterprises by 4.6% during the second quarter. Jennison Associates LLC now owns 923,847 shares of the company’s stock worth $47,587,000 after purchasing an additional 40,936 shares during the period. Finally, Global Alpha Capital Management Ltd. increased its position in Rush Enterprises by 4.5% during the second quarter. Global Alpha Capital Management Ltd. now owns 843,890 shares of the company’s stock worth $43,469,000 after buying an additional 36,600 shares during the last quarter. 84.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

About Rush Enterprises

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.