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

Educational Development Co. (NASDAQ:EDUC – Get Rating) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 8,500 shares, an increase of 93.2% from the April 30th total of 4,400 shares. Based on an average trading volume of 12,100 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Trading of Educational Development

A number of hedge funds have recently made changes to their positions in EDUC. Needham Investment Management LLC raised its stake in Educational Development by 77.8% during the 4th quarter. Needham Investment Management LLC now owns 400,000 shares of the company’s stock valued at $1,264,000 after buying an additional 175,000 shares during the last quarter. Morgan Dempsey Capital Management LLC purchased a new stake in Educational Development during the 1st quarter valued at $367,000. State Street Corp purchased a new stake in Educational Development during the 2nd quarter valued at $65,000. Perritt Capital Management Inc. raised its stake in Educational Development by 63.2% during the 1st quarter. Perritt Capital Management Inc. now owns 30,090 shares of the company’s stock valued at $88,000 after buying an additional 11,652 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Educational Development by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 282,491 shares of the company’s stock valued at $681,000 after buying an additional 4,750 shares during the last quarter. 23.22% of the stock is owned by institutional investors.

Educational Development Stock Performance

Shares of EDUC traded down $0.04 during mid-day trading on Friday, reaching $1.05. The company had a trading volume of 16,888 shares, compared to its average volume of 12,816. The firm has a 50-day moving average price of $2.26 and a 200 day moving average price of $2.94. Educational Development has a 52 week low of $1.00 and a 52 week high of $5.00. The company has a market capitalization of $8.97 million, a price-to-earnings ratio of -3.37 and a beta of 0.88.

Wall Street Analysts Forecast Growth

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

About Educational Development

(Get Rating)

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.