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

Educational Development Co. (NASDAQ:EDUC – Get Rating) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Educational Development in a research note on Wednesday. They issued a “strong-buy” rating on the stock.

Educational Development Stock Performance

The company has a market cap of $10.73 million, a P/E ratio of -4.03 and a beta of 0.88. The company has a fifty day moving average price of $2.34 and a two-hundred day moving average price of $2.97.

Hedge Funds Weigh In On Educational Development

Several hedge funds have recently modified their holdings of the stock. Morgan Dempsey Capital Management LLC bought a new position in Educational Development during the first quarter worth about $367,000. State Street Corp bought a new position in Educational Development during the second quarter worth about $65,000. Vanguard Group Inc. grew 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 worth $681,000 after purchasing an additional 4,750 shares during the period. Needham Investment Management LLC grew 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 worth $1,264,000 after purchasing an additional 175,000 shares during the period. Finally, Perritt Capital Management Inc. grew 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 worth $88,000 after purchasing an additional 11,652 shares during the period. Institutional investors 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.