Rush Enterprises, Inc. (RUSHA) Short Interest Up 3.6% in May
Rush Enterprises, Inc. (NASDAQ:RUSHA) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 932,836 shares, a growth of 3.6% from the May 15th total of 900,136 shares. Based on an average daily volume of 170,251 shares, the short-interest ratio is currently 5.5 days.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. increased its stake in shares of Rush Enterprises by 153.1% in the first quarter. Ameritas Investment Partners Inc. now owns 3,796 shares of the company’s stock valued at $125,000 after buying an additional 2,296 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Rush Enterprises by 2.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,527 shares of the company’s stock valued at $177,000 after buying an additional 115 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Rush Enterprises during the fourth quarter valued at approximately $201,000. Tudor Investment Corp Et Al bought a new stake in shares of Rush Enterprises during the fourth quarter valued at approximately $265,000. Finally, Nine Chapters Capital Management LLC bought a new stake in shares of Rush Enterprises during the first quarter valued at approximately $281,000. 76.77% of the stock is owned by institutional investors.
Shares of Rush Enterprises (NASDAQ:RUSHA) opened at 37.36 on Tuesday. The company has a market capitalization of $1.48 billion, a PE ratio of 28.67 and a beta of 1.12. The firm’s 50-day moving average is $36.84 and its 200-day moving average is $33.98. Rush Enterprises has a 12-month low of $20.22 and a 12-month high of $39.21.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Thursday, April 27th. TheStreet upgraded shares of Rush Enterprises from a “c+” rating to a “b-” rating in a report on Tuesday, April 25th. Seaport Global Securities assumed coverage on shares of Rush Enterprises in a report on Thursday, April 6th. They set a “buy” rating and a $42.00 price target for the company. Stifel Nicolaus upped their price target on shares of Rush Enterprises from $32.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, April 26th. Finally, BMO Capital Markets restated a “hold” rating and set a $30.00 price target on shares of Rush Enterprises in a report on Thursday, April 20th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $35.75.
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About Rush Enterprises
Rush Enterprises, Inc is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.
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