New Oriental Education & Technology Group (NYSE:EDU) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• New Oriental Education & Technology Group shares rose above their 200-day moving average of $52.76, reaching $59.53 and closing near $59.30.
• Analyst sentiment is generally positive, with an overall “Moderate Buy” rating and an average price target of $64.54, implying potential upside from recent levels.
• Institutional investors increased their positions, while company insiders sold 72,170 shares worth approximately $4.1 million during the last quarter.

New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $52.76 and traded as high as $59.53. New Oriental Education & Technology Group shares last traded at $59.30, with a volume of 376,848 shares.

Analysts Set New Price Targets

EDU has been the subject of several analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of New Oriental Education & Technology Group in a research note on Tuesday, July 21st. The Goldman Sachs Group raised New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and dropped their target price for the company from $67.00 to $65.00 in a report on Thursday, June 11th. New Street Research set a $56.50 price target on New Oriental Education & Technology Group in a research note on Thursday, July 30th. Finally, Wall Street Zen downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $64.54.

New Oriental Education & Technology Group Price Performance

The firm has a market capitalization of $9.37 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 0.62 and a beta of 0.23. The business's 50 day moving average price is $53.16 and its 200-day moving average price is $52.76.

Insider Activity at New Oriental Education & Technology Group

In other New Oriental Education & Technology Group news, Director Yue Zhuge sold 1,600 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $59.55, for a total transaction of $95,280.00. Following the transaction, the director owned 2,000 shares in the company, valued at approximately $119,100. The trade was a 44.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Chenggang Zhou sold 56,948 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $56.83, for a total value of $3,236,354.84. Following the transaction, the director directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 72,170 shares of company stock worth $4,100,348 in the last quarter. 15.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. AIA Group Ltd boosted its position in shares of New Oriental Education & Technology Group by 185.2% during the 1st quarter. AIA Group Ltd now owns 93,342 shares of the company's stock worth $5,286,000 after purchasing an additional 60,611 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of New Oriental Education & Technology Group in the 1st quarter valued at about $18,528,000. Aubrey Capital Management Ltd purchased a new position in shares of New Oriental Education & Technology Group in the 1st quarter valued at about $9,888,000. Swedbank AB lifted its stake in shares of New Oriental Education & Technology Group by 52.0% in the fourth quarter. Swedbank AB now owns 35,651 shares of the company's stock valued at $1,962,000 after purchasing an additional 12,200 shares during the period. Finally, Amundi lifted its stake in shares of New Oriental Education & Technology Group by 14.4% in the first quarter. Amundi now owns 507,774 shares of the company's stock valued at $28,755,000 after purchasing an additional 63,845 shares during the period.

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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