Short Interest in Educational Development Corporation (NASDAQ:EDUC) Declines By 40.8%

Educational Development Corporation (NASDAQ:EDUC) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totaling 4,872 shares, a decrease of 40.8% from the April 15th total of 8,234 shares. Based on an average daily trading volume, of 75,488 shares, the short-interest ratio is currently 0.1 days. Approximately 0.1% of the company’s shares are sold short.

Hedge Funds Weigh In On Educational Development

Hedge funds have recently modified their holdings of the stock. Bridgeway Capital Management LLC bought a new position in shares of Educational Development in the 4th quarter valued at about $29,000. Citadel Advisors LLC bought a new position in shares of Educational Development in the 3rd quarter valued at about $36,000. Finally, State Street Corp grew 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 acquiring an additional 16,400 shares in the last quarter. Institutional investors own 19.60% of the company’s stock.

Educational Development Price Performance

EDUC stock traded up $0.01 during trading hours on Friday, reaching $1.49. 164,032 shares of the stock were exchanged, compared to its average volume of 46,880. The firm’s 50-day moving average is $1.37 and its 200-day moving average is $1.36. The company has a market cap of $12.68 million, a price-to-earnings ratio of 3.17 and a beta of 1.02. Educational Development has a 12 month low of $1.01 and a 12 month high of $1.84.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Educational Development from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.