New Oriental Education & Technology Group (NYSE:EDU) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• New Oriental Education & Technology Group shares crossed above their 200-day moving average, reaching $55.80 compared with the $52.73 average, and last traded at $55.5550.
• Analyst sentiment remains favorable overall, with a consensus rating of “Moderate Buy” and an average price target of $63.17, despite some hold ratings and a reduced target from Goldman Sachs.
• Insiders sold 72,170 shares worth approximately $4.1 million over the past 90 days, while several institutional investors—including Amundi and Triata Capital—expanded their positions.

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $52.73 and traded as high as $55.80. New Oriental Education & Technology Group shares last traded at $55.5550, with a volume of 216,212 shares changing hands.

Analyst Upgrades and Downgrades

EDU has been the topic of a number of research reports. Wall Street Zen cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of New Oriental Education & Technology Group in a report on Tuesday, July 21st. New Street Research set a $56.50 target price on New Oriental Education & Technology Group in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group raised New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and lowered their target price for the company from $67.00 to $65.00 in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, New Oriental Education & Technology Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.17.

New Oriental Education & Technology Group Price Performance

The company has a market cap of $8.78 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 0.59 and a beta of 0.19. The business's 50-day simple moving average is $56.02 and its 200-day simple moving average is $52.73.

Insider Activity at New Oriental Education & Technology Group

In other New Oriental Education & Technology Group news, Director Chenggang Zhou sold 56,948 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the completion of the transaction, the director owned 429,998 shares of the company's stock, valued at approximately $24,436,786.34. This trade represents a 11.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Yue Zhuge sold 1,600 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $59.55, for a total value of $95,280.00. Following the transaction, the director directly owned 2,000 shares of the company's stock, valued at $119,100. The trade was a 44.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 72,170 shares of company stock valued at $4,100,348 over the last 90 days. Insiders own 15.50% of the company's stock.

Institutional Trading of New Oriental Education & Technology Group

A number of large investors have recently made changes to their positions in EDU. BRIGHT VALLEY CAPITAL Ltd acquired a new position in New Oriental Education & Technology Group in the 4th quarter valued at about $28,944,000. Amundi lifted its holdings in New Oriental Education & Technology Group by 14.4% in the 1st quarter. Amundi now owns 507,774 shares of the company's stock valued at $28,755,000 after purchasing an additional 63,845 shares in the last quarter. Triata Capital Ltd boosted its stake in shares of New Oriental Education & Technology Group by 8.0% during the 4th quarter. Triata Capital Ltd now owns 396,786 shares of the company's stock worth $21,835,000 after purchasing an additional 29,412 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of New Oriental Education & Technology Group during the 1st quarter worth about $18,528,000. Finally, Carmignac Gestion grew its holdings in shares of New Oriental Education & Technology Group by 0.8% during the second quarter. Carmignac Gestion now owns 368,392 shares of the company's stock worth $16,921,000 after buying an additional 3,006 shares in the last quarter.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group is a China-based education services provider founded in 1993 by Michael Yu. The company offers educational programs and services for students, families and adult learners, with operations focused primarily on China.

Its business activities have included test preparation for international examinations, overseas study consulting, language training, online education and educational materials. New Oriental has also provided tutoring and other education services for students in primary and secondary school, as well as programs designed to support domestic academic development and professional skills.

The company serves customers through learning centers, schools and digital platforms across multiple regions of China.

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