New Oriental Education & Technology Group (NYSE:EDU) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• EDU crossed above its 200-day moving average
• Analysts have been upgrading the stock (China Renaissance to strong-buy, HSBC and others to buy), leaving a consensus rating of "Moderate Buy" and an average target price of $65.84 (New Street Research target $68).
• Institutional activity has ramped up notably, led by Invesco's large addition of 4.61 million shares (~$253.7M), while HSBC, XTX Topco and others also increased or initiated positions.

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $55.75 and traded as high as $58.66. New Oriental Education & Technology Group shares last traded at $57.3380, with a volume of 530,992 shares.

Analyst Ratings Changes

Several brokerages recently issued reports on EDU. China Renaissance raised New Oriental Education & Technology Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 29th. Wall Street Zen raised New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Saturday, January 31st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. New Street Research set a $68.00 price target on New Oriental Education & Technology Group in a report on Wednesday, January 28th. Finally, HSBC raised New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $65.84.

New Oriental Education & Technology Group Price Performance

The stock has a 50-day simple moving average of $57.18 and a 200-day simple moving average of $55.75. The stock has a market cap of $9.06 billion, a PE ratio of 24.30, a P/E/G ratio of 0.96 and a beta of 0.32.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC boosted its position in shares of New Oriental Education & Technology Group by 40.3% in the fourth quarter. Hsbc Holdings PLC now owns 26,433 shares of the company's stock worth $1,449,000 after buying an additional 7,593 shares during the period. Invesco Ltd. boosted its position in shares of New Oriental Education & Technology Group by 5,697.3% in the fourth quarter. Invesco Ltd. now owns 4,610,905 shares of the company's stock worth $253,738,000 after buying an additional 4,531,370 shares during the period. Vident Advisory LLC boosted its position in shares of New Oriental Education & Technology Group by 8.2% in the fourth quarter. Vident Advisory LLC now owns 5,939 shares of the company's stock worth $327,000 after buying an additional 449 shares during the period. XTX Topco Ltd boosted its position in shares of New Oriental Education & Technology Group by 156.3% in the fourth quarter. XTX Topco Ltd now owns 13,664 shares of the company's stock worth $752,000 after buying an additional 8,332 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of New Oriental Education & Technology Group in the fourth quarter worth about $1,313,000.

About New Oriental Education & Technology Group

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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