Rush Enterprises, Inc. (NASDAQ:RUSHA) Short Interest Down 12.3% in January

Rush Enterprises, Inc. (NASDAQ:RUSHA) saw 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 trading volume of 381,177 shares, the days-to-cover ratio is presently 7.2 days. Approximately 4.1% of the shares of the company are sold short. Approximately 4.1% of the shares of the company are sold short. Based on an average trading volume of 381,177 shares, the days-to-cover ratio is presently 7.2 days.

Institutional Trading of Rush Enterprises

A number of institutional investors have recently modified their holdings of the stock. American Century Companies Inc. grew its holdings in shares of Rush Enterprises by 540.0% during the 2nd quarter. American Century Companies Inc. now owns 846,512 shares of the company’s stock worth $43,604,000 after purchasing an additional 714,253 shares in the last quarter. Millennium Management LLC lifted its position in Rush Enterprises by 280.4% during the third quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock worth $28,924,000 after purchasing an additional 398,721 shares during the period. Rivulet Capital LLC acquired a new stake in Rush Enterprises during the second quarter worth about $19,286,000. Ameriprise Financial Inc. increased its holdings in Rush Enterprises by 91.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company’s stock valued at $32,392,000 after buying an additional 301,119 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in Rush Enterprises by 303.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 352,922 shares of the company’s stock valued at $18,179,000 after buying an additional 265,432 shares during the period. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Stock Performance

NASDAQ RUSHA opened at $67.04 on Tuesday. The firm has a 50-day moving average price of $57.65 and a two-hundred day moving average price of $54.95. Rush Enterprises has a 12-month low of $45.67 and a 12-month high of $67.08. The company has a market capitalization of $5.17 billion, a P/E ratio of 19.89, a P/E/G ratio of 0.79 and a beta of 0.92. The company has a quick ratio of 0.34, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

Wall Street Analysts Forecast Growth

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