Educational Development Corporation (NASDAQ:EDUC – Get Free Report) saw a significant increase in short interest in June. As of June 15th, there was short interest totaling 15,492 shares, an increase of 111.3% from the May 31st total of 7,331 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 35,456 shares, the days-to-cover ratio is presently 0.4 days.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EDUC. Citadel Advisors LLC purchased a new stake in shares of Educational Development during the third quarter worth about $36,000. Bridgeway Capital Management LLC acquired a new stake in Educational Development during the fourth quarter worth approximately $29,000. Finally, State Street Corp grew its stake in Educational Development by 106.0% in 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 during the period. 19.60% of the stock is currently owned by hedge funds and other institutional investors.
Educational Development Price Performance
Shares of EDUC opened at $1.52 on Tuesday. The firm has a 50 day simple moving average of $1.44 and a 200-day simple moving average of $1.39. Educational Development has a 1-year low of $1.00 and a 1-year high of $1.84. The stock has a market cap of $12.94 million, a price-to-earnings ratio of 5.85 and a beta of 1.02.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded Educational Development from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.
Get Our Latest Stock Analysis on EDUC
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.
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