New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up - Time to Buy?

New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $44.09, but opened at $45.10. New Oriental Education & Technology Group shares last traded at $45.65, with a volume of 150,899 shares.

Analyst Ratings Changes

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

New Oriental Education & Technology Group Stock Performance

The firm has a market cap of $7.61 billion, a PE ratio of 19.08 and a beta of 0.37. The firm's 50 day moving average price is $48.02 and its two-hundred day moving average price is $56.44.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of hedge funds have recently modified their holdings of EDU. JPMorgan Chase & Co. lifted its position in New Oriental Education & Technology Group by 192.2% in the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company's stock valued at $62,703,000 after buying an additional 543,810 shares during the last quarter. Green Court Capital Management Ltd purchased a new stake in shares of New Oriental Education & Technology Group in the 4th quarter valued at approximately $21,152,000. Panview Capital Ltd acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter worth approximately $27,358,000. Erste Asset Management GmbH acquired a new stake in New Oriental Education & Technology Group in the 4th quarter valued at approximately $1,264,000. Finally, LBP AM SA acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at $3,061,000.

About New Oriental Education & Technology Group

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.