New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 4,580,000 shares, an increase of 7.0% from the March 31st total of 4,280,000 shares. Based on an average daily trading volume, of 1,760,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 2.8% of the company's stock are sold short.
Institutional Investors Weigh In On New Oriental Education & Technology Group
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Broad Peak Investment Holdings Ltd. bought a new stake in New Oriental Education & Technology Group during the 1st quarter worth $19,417,000. Diversify Advisory Services LLC bought a new stake in New Oriental Education & Technology Group during the 1st quarter worth $1,116,000. Norden Group LLC bought a new stake in New Oriental Education & Technology Group during the 1st quarter worth $796,000. China Universal Asset Management Co. Ltd. bought a new stake in New Oriental Education & Technology Group during the 1st quarter worth $2,365,000. Finally, XY Capital Ltd grew its position in New Oriental Education & Technology Group by 8.0% during the 1st quarter. XY Capital Ltd now owns 66,233 shares of the company's stock worth $5,750,000 after acquiring an additional 4,887 shares during the last quarter.
Analyst Ratings Changes
A number of analysts have recently issued reports on EDU shares. Morgan Stanley raised their price objective on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, March 28th. Citigroup lifted their price target on New Oriental Education & Technology Group from $66.00 to $127.00 and gave the stock a "buy" rating in a report on Thursday, April 25th. Finally, StockNews.com lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $97.67.
Check Out Our Latest Research Report on EDU
New Oriental Education & Technology Group Stock Up 3.2 %
Shares of EDU traded up $2.50 during midday trading on Thursday, hitting $80.89. The company's stock had a trading volume of 2,412,967 shares, compared to its average volume of 1,852,042. New Oriental Education & Technology Group has a one year low of $35.70 and a one year high of $98.20. The company's fifty day simple moving average is $88.50 and its two-hundred day simple moving average is $79.43. The stock has a market capitalization of $13.73 billion, a price-to-earnings ratio of 42.15 and a beta of 0.52.
New Oriental Education & Technology Group Company Profile
(
Get Free Report)
New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.
Further Reading
Before you consider New Oriental Education & Technology Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Oriental Education & Technology Group wasn't on the list.
While New Oriental Education & Technology Group currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
