Educational Development (NASDAQ:EDUC) Stock Crosses Below Two Hundred Day Moving Average of $2.97

Educational Development Co. (NASDAQ:EDUC – Get Rating)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.97 and traded as low as $1.25. Educational Development shares last traded at $1.25, with a volume of 21,498 shares traded.

Analysts Set New Price Targets

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

Educational Development Stock Down 3.8 %

The stock has a market cap of $10.73 million, a price-to-earnings ratio of -4.03 and a beta of 0.88. The business has a 50-day moving average of $2.34 and a 200-day moving average of $2.97.

Institutional Trading of Educational Development

A number of institutional investors have recently bought and sold shares of the company. Needham Investment Management LLC raised its holdings in Educational Development by 77.8% during the fourth 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 in the last quarter. Vanguard Group Inc. raised its holdings in Educational Development by 1.7% during the third 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 in the last quarter. Morgan Dempsey Capital Management LLC bought a new position in Educational Development during the first quarter valued at about $367,000. Perritt Capital Management Inc. raised its holdings in Educational Development by 63.2% during the first 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 in the last quarter. Finally, State Street Corp bought a new position in Educational Development during the second quarter valued at about $65,000. Institutional investors and hedge funds own 23.22% of the company’s stock.

Educational Development Company Profile

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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.