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

Posted by on Aug 13th, 2023

Educational Development Co. (NASDAQ:EDUC – Get Free Report) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 20,800 shares, an increase of 150.6% from the July 15th total of 8,300 shares. Based on an average daily trading volume, of 26,500 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.3% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Educational Development in a report on Saturday. They set a “strong-buy” rating for the company.

Check Out Our Latest Stock Analysis on EDUC

Educational Development Trading Up 3.2 %

NASDAQ EDUC opened at $1.60 on Friday. The stock has a market cap of $13.73 million, a PE ratio of -3.56 and a beta of 0.93. Educational Development has a twelve month low of $1.00 and a twelve month high of $4.00. The stock has a fifty day simple moving average of $1.36 and a 200-day simple moving average of $2.23.

Educational Development (NASDAQ:EDUC – Get Free Report) last released its quarterly earnings results on Thursday, July 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.15). The business had revenue of $14.52 million for the quarter. Educational Development had a negative return on equity of 7.87% and a negative net margin of 4.11%.

Hedge Funds Weigh In On Educational Development

A number of hedge funds have recently modified their holdings of EDUC. Perritt Capital Management Inc. lifted 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 worth $88,000 after acquiring an additional 11,652 shares in the last quarter. Needham Investment Management LLC lifted 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 worth $1,264,000 after acquiring an additional 175,000 shares in the last quarter. Vanguard Group Inc. lifted 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 worth $681,000 after acquiring an additional 4,750 shares in the last quarter. State Street Corp acquired a new position in Educational Development during the 2nd quarter worth about $65,000. Finally, Morgan Dempsey Capital Management LLC acquired a new position in Educational Development during the 1st quarter worth about $367,000. 25.52% of the stock is currently owned by hedge funds and other institutional investors.

Educational Development Company Profile

(Get Free Report)

Educational Development Corporation, a publishing company, operates as a publisher of educational children's books in the United States. It operates through two segments, PaperPie and Publishing. The company offers various books, including touchy-feely board books, activity books and flashcards, adventure and search books, art books, sticker books, and foreign language books, as well as internet-linked books comprising science and math titles, and chapter books and novels.

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