Short Interest in Educational Development Corporation (NASDAQ:EDUC) Expands By 111.3%

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 currently 0.4 days. Currently, 0.2% of the company’s shares are sold short.

Analysts Set New Price Targets

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

Educational Development Trading Up 2.0%

Shares of NASDAQ EDUC opened at $1.54 on Thursday. Educational Development has a 12-month low of $1.00 and a 12-month high of $1.84. The company has a market cap of $13.11 million, a P/E ratio of 5.92 and a beta of 1.02. The stock has a fifty day moving average price of $1.45 and a 200 day moving average price of $1.39.

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

Institutional Investors Weigh In On Educational Development

Several hedge funds have recently modified their holdings of EDUC. State Street Corp boosted its holdings 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. Bridgeway Capital Management LLC purchased a new stake in shares of Educational Development during the fourth quarter valued at approximately $29,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Educational Development during the third quarter valued at approximately $36,000. 19.60% of the stock is currently owned by hedge funds and other institutional investors.

Educational Development Company Profile

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.