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

Educational Development Co. (NASDAQ:EDUC – Get Rating) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 8,500 shares, a growth of 93.2% from the April 30th total of 4,400 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 12,100 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of Educational Development

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp purchased a new position in Educational Development during the second quarter worth approximately $65,000. Perritt Capital Management Inc. boosted its position in Educational Development by 63.2% during the first quarter. Perritt Capital Management Inc. now owns 30,090 shares of the company’s stock worth $88,000 after purchasing an additional 11,652 shares in the last quarter. Morgan Dempsey Capital Management LLC purchased a new position in Educational Development during the first quarter worth approximately $367,000. Vanguard Group Inc. boosted its position in Educational Development by 1.7% during the third quarter. Vanguard Group Inc. now owns 282,491 shares of the company’s stock worth $681,000 after purchasing an additional 4,750 shares in the last quarter. Finally, Needham Investment Management LLC boosted its position in Educational Development by 77.8% during the fourth quarter. Needham Investment Management LLC now owns 400,000 shares of the company’s stock worth $1,264,000 after purchasing an additional 175,000 shares in the last quarter. 23.22% of the stock is owned by institutional investors and hedge funds.

Educational Development Stock Performance

Educational Development stock traded down $0.04 during midday trading on Friday, hitting $1.05. 16,888 shares of the company were exchanged, compared to its average volume of 12,816. The firm has a market capitalization of $8.97 million, a PE ratio of -3.37 and a beta of 0.88. Educational Development has a fifty-two week low of $1.00 and a fifty-two week high of $5.00. The business has a fifty day simple moving average of $2.26 and a two-hundred day simple moving average of $2.94.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Educational Development in a report on Wednesday. They set a “strong-buy” rating on the stock.

About Educational Development

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Educational Development Corp. engages in the provision of educational children’s books. It operates through the Home Business and Publishing segments. The Home Business (Usborne Books & More or UBAM) segment sells books through independent consultants directly to customers by hosting home parties, through social media collaboration platforms on the internet, by hosting book fairs with school and public libraries.