New Oriental Education & Technology Group, Inc. (NYSE:EDU) Sees Large Drop in Short Interest

Key Points

• Short interest plunged 42.4% to 2,799,582 shares as of March 31, equal to about 2.1% of shares outstanding and a short-interest ratio of 3.4 days (avg daily volume 827,124).
• Shares traded down 1.4% to $56.11 on Monday; the company carries an $8.87 billion market cap, a P/E of 23.79, and a 52-week range of $41.62–$64.97.
• Institutional and analyst moves included Invesco boosting its stake to 4.61 million shares, and analysts hold a consensus "Moderate Buy" rating with an average price target of $65.84 after several upgrades.

New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 2,799,582 shares, a decrease of 42.4% from the March 15th total of 4,856,468 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily volume of 827,124 shares, the short-interest ratio is presently 3.4 days.

New Oriental Education & Technology Group Trading Down 1.4%

Shares of NYSE:EDU traded down $0.78 during trading on Monday, reaching $56.11. 133,157 shares of the company traded hands, compared to its average volume of 903,350. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 0.97 and a beta of 0.32. New Oriental Education & Technology Group has a 52-week low of $41.62 and a 52-week high of $64.97. The business's fifty day moving average is $57.07 and its 200-day moving average is $55.86.

Institutional Trading of New Oriental Education & Technology Group

A number of institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its stake in shares of New Oriental Education & Technology Group by 40.3% during the fourth quarter. Hsbc Holdings PLC now owns 26,433 shares of the company's stock valued at $1,449,000 after purchasing an additional 7,593 shares during the period. Invesco Ltd. boosted its stake in shares of New Oriental Education & Technology Group by 5,697.3% during the fourth quarter. Invesco Ltd. now owns 4,610,905 shares of the company's stock valued at $253,738,000 after purchasing an additional 4,531,370 shares during the period. Vident Advisory LLC boosted its stake in shares of New Oriental Education & Technology Group by 8.2% during the fourth quarter. Vident Advisory LLC now owns 5,939 shares of the company's stock valued at $327,000 after purchasing an additional 449 shares during the period. XTX Topco Ltd boosted its stake in shares of New Oriental Education & Technology Group by 156.3% during the fourth quarter. XTX Topco Ltd now owns 13,664 shares of the company's stock valued at $752,000 after purchasing an additional 8,332 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $1,313,000.

Analyst Ratings Changes

Several analysts have issued reports on EDU shares. China Renaissance raised New Oriental Education & Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 29th. HSBC raised New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note on Wednesday, January 28th. New Street Research set a $68.00 target price on New Oriental Education & Technology Group in a research note on Wednesday, January 28th. Wall Street Zen raised New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note on Saturday, January 31st. Finally, Zacks Research lowered New Oriental Education & Technology Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $65.84.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group NYSE: EDU is one of China's leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company's offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental's curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.

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