Educational Development Corporation (NASDAQ:EDUC) Sees Significant Increase in Short Interest

Educational Development Corporation (NASDAQ:EDUC) saw a large growth in short interest during 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 currently 0.4 days. Approximately 0.2% of the shares of the company are sold short.

Institutional Trading of Educational Development

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC acquired a new position in Educational Development during the third quarter worth about $36,000. 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. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Educational Development during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

Educational Development Trading Down 1.3%

Shares of EDUC opened at $1.52 on Tuesday. The stock’s 50 day moving average is $1.44 and its two-hundred day moving average is $1.39. Educational Development has a twelve month low of $1.00 and a twelve month high of $1.84. The firm has a market capitalization of $12.94 million, a PE ratio of 5.85 and a beta of 1.02.

Educational Development (NASDAQ:EDUC) last posted its quarterly 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 net margin of 10.15% and a negative return on equity of 17.66%. The business had revenue of $4.18 million during the quarter, compared to analyst estimates of $40.00 million.

Analyst Ratings Changes

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

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.