New Oriental Education & Technology Group (NYSE:EDU) Stock Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• EDU shares moved above their 200-day moving average, reaching $55.74 and last trading at $55.11, compared with a 200-day average of $52.60.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $61.92; individual views range from Hold to Strong Buy.
• Insiders sold 72,170 shares worth approximately $4.1 million over the past 90 days, while several institutional investors increased their positions.

New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $52.60 and traded as high as $55.74. New Oriental Education & Technology Group shares last traded at $55.11, with a volume of 394,719 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EDU. Weiss Ratings reaffirmed a "hold (c)" rating on shares of New Oriental Education & Technology Group in a research note on Tuesday, July 21st. New Street Research set a $56.50 price target on shares of New Oriental Education & Technology Group in a research note on Thursday, July 30th. Wall Street Zen lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and cut their price objective for the company from $67.00 to $65.00 in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $61.92.

New Oriental Education & Technology Group Price Performance

The stock has a market cap of $8.71 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 0.59 and a beta of 0.23. The business has a 50 day moving average price of $54.99 and a two-hundred day moving average price of $52.60.

Insider Activity

In other news, Director Yue Zhuge sold 1,600 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $59.55, for a total transaction of $95,280.00. Following the completion of the sale, the director directly owned 2,000 shares in the company, valued at approximately $119,100. This represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Chenggang Zhou sold 56,948 shares of the stock in a transaction dated 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 sale, the director owned 429,998 shares of the company's stock, valued at approximately $24,436,786.34. This represents a 11.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 72,170 shares of company stock valued at $4,100,348. Insiders own 15.50% of the company's stock.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in New Oriental Education & Technology Group by 106.9% in the first quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company's stock valued at $31,000 after acquiring an additional 279 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in New Oriental Education & Technology Group by 10.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company's stock worth $186,000 after purchasing an additional 324 shares in the last quarter. Persistent Asset Partners Ltd raised its holdings in New Oriental Education & Technology Group by 11.0% in the 4th quarter. Persistent Asset Partners Ltd now owns 11,825 shares of the company's stock worth $651,000 after purchasing an additional 1,172 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of New Oriental Education & Technology Group by 42.7% in the 4th quarter. Hantz Financial Services Inc. now owns 4,845 shares of the company's stock worth $267,000 after purchasing an additional 1,450 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG lifted its position in shares of New Oriental Education & Technology Group by 10.9% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 15,869 shares of the company's stock worth $729,000 after purchasing an additional 1,555 shares during the period.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group Inc is a China-based education services provider that offers learning programs through online platforms and physical schools and learning centers. The company serves students, families and adult learners with services covering language training, test preparation, educational consulting and other academic programs.

Its offerings have historically included preparation for overseas admissions and examinations such as TOEFL, IELTS, SAT, GRE and GMAT, as well as overseas study consulting, domestic examination preparation, primary and secondary education services, and educational materials and software.

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