Short Interest in Educational Development Corporation (NASDAQ:EDUC) Increases By 760.9%

Educational Development Corporation (NASDAQ:EDUC) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 26,138 shares, a growth of 760.9% from the July 15th total of 3,036 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 250,155 shares, the days-to-cover ratio is currently 0.1 days.

Educational Development Price Performance

NASDAQ EDUC traded down $0.01 on Thursday, hitting $1.38. 16,573 shares of the stock were exchanged, compared to its average volume of 87,856. The company’s 50-day moving average price is $1.46 and its two-hundred day moving average price is $1.41. Educational Development has a 52-week low of $1.01 and a 52-week high of $1.84. The company has a market capitalization of $11.76 million, a price-to-earnings ratio of 6.00 and a beta of 1.04.

Educational Development (NASDAQ:EDUC) last released its earnings results on Thursday, July 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.57). The business had revenue of $4.76 million during the quarter, compared to analysts’ expectations of $53.10 million. Educational Development had a net margin of 9.75% and a negative return on equity of 18.23%.

Institutional Investors Weigh In On Educational Development

Institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of Educational Development by 106.0% in the 4th quarter. State Street Corp now owns 31,876 shares of the company’s stock valued at $42,000 after purchasing an additional 16,400 shares during the period. Citadel Advisors LLC purchased a new stake in shares of Educational Development in the third quarter worth approximately $36,000. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Educational Development during the fourth quarter worth approximately $29,000. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded 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, Based on data from MarketBeat.com, the company has a consensus 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.