News That Matters

New Oriental Education & Technology Group Inc. (NYSE:EDU) Sees Large Decrease in Short Interest


New Oriental Education & Technology Group Inc. (NYSE:EDUGet Rating) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 7,280,000 shares, a drop of 12.8% from the October 31st total of 8,350,000 shares. Based on an average daily volume of 2,130,000 shares, the short-interest ratio is presently 3.4 days. Approximately 4.5% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EDU shares. StockNews.com started coverage on shares of New Oriental Education & Technology Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. TheStreet cut shares of New Oriental Education & Technology Group from a “c-” rating to a “d” rating in a research report on Monday, November 21st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Eaton Vance Management lifted its holdings in shares of New Oriental Education & Technology Group by 306.7% during the 1st quarter. Eaton Vance Management now owns 22,543 shares of the company’s stock valued at $26,000 after buying an additional 17,000 shares during the period. Quadrant Capital Group LLC purchased a new stake in New Oriental Education & Technology Group during the second quarter valued at $42,000. Royal Bank of Canada lifted its holdings in New Oriental Education & Technology Group by 13.6% in the first quarter. Royal Bank of Canada now owns 44,215 shares of the company’s stock valued at $51,000 after acquiring an additional 5,299 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in New Oriental Education & Technology Group by 18.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 47,823 shares of the company’s stock worth $55,000 after purchasing an additional 7,300 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of New Oriental Education & Technology Group by 45.6% during the 3rd quarter. Signaturefd LLC now owns 2,933 shares of the company’s stock valued at $70,000 after purchasing an additional 918 shares during the period. Institutional investors own 45.81% of the company’s stock.

New Oriental Education & Technology Group Trading Up 6.2 %

Shares of NYSE EDU traded up $1.77 during midday trading on Friday, hitting $30.13. The stock had a trading volume of 2,338,568 shares, compared to its average volume of 2,197,289. The business’s 50 day moving average is $25.42 and its 200-day moving average is $23.03. New Oriental Education & Technology Group has a 52 week low of $8.40 and a 52 week high of $30.50.

New Oriental Education & Technology Group (NYSE:EDUGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.17. The business had revenue of $744.80 million during the quarter, compared to analysts’ expectations of $689.08 million. The business’s quarterly revenue was down 43.1% compared to the same quarter last year. On average, equities research analysts expect that New Oriental Education & Technology Group will post 0.48 EPS for the current fiscal year.

New Oriental Education & Technology Group Company Profile

(Get Rating)

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 Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Others segments.

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