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

Key Points

• New Oriental Education & Technology Group shares moved above their 200-day moving average, reaching $59.14 before trading near $57.92, compared with the $52.77 average.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $64.54, although some firms have downgraded the stock to “Hold.”
• Insiders sold 72,170 shares worth approximately $4.1 million over the past 90 days, while several institutional investors increased their positions in the company.

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $52.77 and traded as high as $59.14. New Oriental Education & Technology Group shares last traded at $57.9170, with a volume of 579,937 shares.

Wall Street Analyst Weigh In

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

New Oriental Education & Technology Group Stock Performance

The firm has a market capitalization of $9.15 billion, a PE ratio of 19.57, a PEG ratio of 0.61 and a beta of 0.24. The company has a fifty day simple moving average of $51.54 and a two-hundred day simple moving average of $52.77.

Insider Activity

In related news, Director Yue Zhuge sold 1,600 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $59.55, for a total value of $95,280.00. Following the completion of the sale, the director directly owned 2,000 shares of the company's stock, valued at $119,100. This represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the director owned 429,998 shares in the company, valued at approximately $24,436,786.34. The trade was a 11.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 72,170 shares of company stock valued at $4,100,348 over the last 90 days. 15.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several hedge funds have recently modified their holdings of EDU. B. Metzler seel. Sohn & Co. AG boosted its stake in shares of New Oriental Education & Technology Group by 10.9% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 15,869 shares of the company's stock valued at $729,000 after purchasing an additional 1,555 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in New Oriental Education & Technology Group in the second quarter worth approximately $585,000. Amundi lifted its holdings in New Oriental Education & Technology Group by 14.4% during the first quarter. Amundi now owns 507,774 shares of the company's stock worth $28,755,000 after buying an additional 63,845 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in New Oriental Education & Technology Group by 106.9% during the first quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company's stock worth $31,000 after buying an additional 279 shares during the period. Finally, Quantinno Capital Management LP boosted its position in New Oriental Education & Technology Group by 27.9% during the 1st quarter. Quantinno Capital Management LP now owns 48,862 shares of the company's stock valued at $2,767,000 after acquiring an additional 10,669 shares in the last quarter.

New Oriental Education & Technology Group Company Profile

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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