Educational Development (NASDAQ:EDUC) Shares Pass Above 50-Day Moving Average – Here’s Why

Educational Development Corporation (NASDAQ:EDUC)’s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.38 and traded as high as $1.48. Educational Development shares last traded at $1.46, with a volume of 76,095 shares traded.

Analyst Upgrades and Downgrades

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

Educational Development Stock Up 3.5%

The stock has a market cap of $12.42 million, a PE ratio of 5.62 and a beta of 1.02. The stock has a 50-day moving average of $1.38 and a 200 day moving average of $1.36.

Educational Development (NASDAQ:EDUC) last posted its earnings results on Tuesday, May 19th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.65). Educational Development had a net margin of 10.15% and a negative return on equity of 17.66%. The business had revenue of $4.18 million during the quarter, compared to analysts’ expectations of $40.00 million.

Institutional Investors Weigh In On Educational Development

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its position in 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 purchasing an additional 16,400 shares during the period. Bridgeway Capital Management LLC purchased a new stake in Educational Development in the fourth quarter valued at $29,000. Finally, Citadel Advisors LLC purchased a new stake in Educational Development in the third quarter valued at $36,000. Hedge funds and other institutional investors own 19.60% of the company’s stock.

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.