New Oriental Education & Technology Group (NYSE:EDU) Shares Up 4.6% - What's Next?

New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report)'s stock price shot up 4.6% during mid-day trading on Tuesday . The company traded as high as $51.88 and last traded at $52.28. 762,220 shares were traded during mid-day trading, a decline of 64% from the average session volume of 2,130,223 shares. The stock had previously closed at $50.00.

Wall Street Analysts Forecast Growth

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

New Oriental Education & Technology Group Stock Performance

The stock has a fifty day moving average of $57.18 and a 200-day moving average of $62.12. The company has a market cap of $9.38 billion, a PE ratio of 23.52 and a beta of 0.42.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Large investors have recently bought and sold shares of the business. Fiera Capital Corp boosted its holdings in New Oriental Education & Technology Group by 19.8% during the 3rd quarter. Fiera Capital Corp now owns 51,371 shares of the company's stock valued at $3,896,000 after acquiring an additional 8,499 shares during the period. JPMorgan Chase & Co. boosted its holdings in New Oriental Education & Technology Group by 192.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company's stock valued at $62,703,000 after acquiring an additional 543,810 shares during the period. Monolith Management Ltd purchased a new position in New Oriental Education & Technology Group during the 3rd quarter valued at $15,168,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in New Oriental Education & Technology Group by 3.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company's stock valued at $44,940,000 after acquiring an additional 19,401 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of New Oriental Education & Technology Group by 12.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company's stock worth $7,573,000 after buying an additional 11,423 shares during the period.

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.