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

New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 8,640,000 shares, a decline of 13.4% from the February 13th total of 9,980,000 shares. Approximately 5.5% of the shares of the company are sold short. Based on an average daily volume of 1,980,000 shares, the short-interest ratio is presently 4.4 days.

New Oriental Education & Technology Group Price Performance

EDU traded down $1.80 during trading on Friday, reaching $50.12. 738,732 shares of the stock were exchanged, compared to its average volume of 1,754,887. New Oriental Education & Technology Group has a 1 year low of $44.46 and a 1 year high of $92.50. The business's 50 day moving average price is $50.80 and its two-hundred day moving average price is $59.20. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 21.33 and a beta of 0.47.

Institutional Trading of New Oriental Education & Technology Group

Large investors have recently modified their holdings of the business. GeoWealth Management LLC lifted its position in shares of New Oriental Education & Technology Group by 258.5% in the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company's stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Westpac Banking Corp purchased a new position in New Oriental Education & Technology Group in the 4th quarter valued at about $45,000. SBI Securities Co. Ltd. acquired a new stake in shares of New Oriental Education & Technology Group during the 4th quarter worth about $51,000. Natixis grew its holdings in shares of New Oriental Education & Technology Group by 39.2% during the fourth quarter. Natixis now owns 881 shares of the company's stock worth $57,000 after buying an additional 248 shares in the last quarter. Finally, BNP Paribas acquired a new position in shares of New Oriental Education & Technology Group in the fourth quarter valued at approximately $113,000.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EDU shares. Morgan Stanley downgraded New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. Macquarie downgraded shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and lowered their target price for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. StockNews.com cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. Citigroup downgraded New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and cut their target price for the stock from $83.00 to $50.00 in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, New Oriental Education & Technology Group currently has an average rating of "Hold" and an average target price of $61.20.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.