Educational Development Corporation (NASDAQ:EDUC) Sees Large Growth in Short Interest

Educational Development Corporation (NASDAQ:EDUC) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 15,492 shares, a growth of 111.3% from the May 31st total of 7,331 shares. Based on an average daily volume of 35,456 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.2% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Educational Development from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Educational Development presently has an average rating of “Sell”.

Educational Development Stock Up 2.6%

NASDAQ:EDUC traded up $0.04 during trading hours on Wednesday, reaching $1.55. 105,306 shares of the company’s stock were exchanged, compared to its average volume of 39,730. The company has a market capitalization of $13.19 million, a P/E ratio of 5.96 and a beta of 1.02. Educational Development has a 12 month low of $1.00 and a 12 month high of $1.84. The business’s 50-day simple moving average is $1.45 and its two-hundred day simple moving average is $1.39.

Educational Development (NASDAQ:EDUC) last announced its earnings results on Tuesday, May 19th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.65). Educational Development had a negative return on equity of 17.66% and a net margin of 10.15%.The firm had revenue of $4.18 million during the quarter, compared to analyst estimates of $40.00 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EDUC. State Street Corp boosted its stake in shares of Educational Development by 106.0% during the 4th quarter. State Street Corp now owns 31,876 shares of the company’s stock worth $42,000 after acquiring an additional 16,400 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Educational Development in the 3rd quarter valued at approximately $36,000. Finally, Bridgeway Capital Management LLC acquired a new stake in Educational Development in the 4th quarter worth approximately $29,000. Institutional investors own 19.60% of the company’s stock.

About Educational Development

Educational Development Corporation, through its subsidiaries, engages in the direct marketing and digital retailing of educational and inspirational reading materials, including books, Bibles, devotionals, and related gift items. The company’s product portfolio extends to children’s literature, music, and home décor, targeting consumers in the faith-based and human-interest segments. Products are sold under proprietary brands across multiple online and catalog platforms.

Central to the company’s operations are its e-commerce websites and print catalogs, which support both retail and wholesale distribution channels.