Educational Development Corporation (NASDAQ:EDUC) Short Interest Down 50.9% in March

Educational Development Corporation (NASDAQ:EDUC) was the target of a large decline in short interest in March. As of March 13th, there was short interest totaling 5,892 shares, a decline of 50.9% from the February 26th total of 12,005 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 29,586 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Educational Development

Institutional investors and hedge funds have recently bought and sold shares of the business. Bridgeway Capital Management LLC acquired a new stake in shares of Educational Development in the fourth quarter valued at $29,000. State Street Corp raised its holdings in shares of Educational Development by 106.0% in the fourth quarter. State Street Corp now owns 31,876 shares of the company’s stock valued at $42,000 after buying an additional 16,400 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in Educational Development during the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

Educational Development Stock Performance

Shares of NASDAQ EDUC traded up $0.00 during mid-day trading on Thursday, hitting $1.32. 3,689 shares of the stock were exchanged, compared to its average volume of 31,694. Educational Development has a twelve month low of $0.92 and a twelve month high of $1.84. The stock’s fifty day simple moving average is $1.37 and its two-hundred day simple moving average is $1.37. The company has a market cap of $11.27 million, a P/E ratio of 2.82 and a beta of 1.03.

Educational Development (NASDAQ:EDUC) last announced its earnings results on Thursday, January 8th. The company reported $0.91 EPS for the quarter. The business had revenue of $7.01 million for the quarter. Educational Development had a negative return on equity of 13.61% and a net margin of 16.10%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Educational Development from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 19th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently 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.