Short Interest in Barnes & Noble Education, Inc. (NYSE:BNED) Drops By 33.5%

Barnes & Noble Education, Inc. (NYSE:BNED) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 711,300 shares, a decrease of 33.5% from the December 15th total of 1,070,000 shares. Currently, 7.9% of the company’s stock are short sold. Based on an average daily trading volume, of 452,800 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Barnes & Noble Education from a “hold” rating to a “sell” rating in a report on Monday.

Barnes & Noble Education Stock Performance

Shares of BNED stock opened at $10.60 on Wednesday. Barnes & Noble Education has a fifty-two week low of $6.05 and a fifty-two week high of $135.00. The stock’s 50-day moving average is $10.66 and its two-hundred day moving average is $10.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.31 and a quick ratio of 0.42. The firm has a market cap of $320.27 million, a P/E ratio of -0.31 and a beta of 2.12.

Hedge Funds Weigh In On Barnes & Noble Education

A number of hedge funds have recently added to or reduced their stakes in BNED. Geode Capital Management LLC lifted its stake in Barnes & Noble Education by 104.0% in the third quarter. Geode Capital Management LLC now owns 152,839 shares of the specialty retailer’s stock valued at $1,416,000 after acquiring an additional 77,932 shares during the last quarter. DCF Advisers LLC acquired a new stake in shares of Barnes & Noble Education in the 2nd quarter valued at $496,000. State Street Corp boosted its holdings in Barnes & Noble Education by 40.9% in the third quarter. State Street Corp now owns 35,463 shares of the specialty retailer’s stock worth $328,000 after purchasing an additional 10,300 shares in the last quarter. Centiva Capital LP bought a new stake in Barnes & Noble Education in the third quarter worth $169,000. Finally, FNY Investment Advisers LLC acquired a new position in Barnes & Noble Education during the fourth quarter worth $49,000. Institutional investors and hedge funds own 38.51% of the company’s stock.

Barnes & Noble Education Company Profile

Barnes & Noble Education, Inc operates bookstores for college and university campuses, and K-12 institutions in the United States. It operates through Retail and Wholesale segments. The company sells and rents new and used print textbooks, digital textbooks, and publisher hosted digital courseware through physical and virtual bookstores, as well as directly to students through Textbooks.com.