New Oriental Education & Technology Group, Inc. (NYSE:EDU) Short Interest Update

New Oriental Education & Technology Group, Inc. (NYSE:EDU) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 5,235,283 shares, an increase of 44.3% from the January 29th total of 3,628,253 shares. Based on an average daily trading volume, of 1,465,496 shares, the short-interest ratio is currently 3.6 days. Approximately 3.9% of the company’s shares are sold short. Approximately 3.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,465,496 shares, the short-interest ratio is currently 3.6 days.

Analysts Set New Price Targets

Several research firms have weighed in on EDU. New Street Research set a $68.00 target price on New Oriental Education & Technology Group in a report on Wednesday, January 28th. Wall Street Zen upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday, December 29th. Zacks Research upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, HSBC raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, New Oriental Education & Technology Group presently has a consensus rating of “Buy” and an average target price of $65.84.

New Oriental Education & Technology Group Price Performance

Shares of EDU traded down $2.21 during mid-day trading on Tuesday, hitting $52.43. 702,149 shares of the company’s stock were exchanged, compared to its average volume of 1,050,743. New Oriental Education & Technology Group has a 52 week low of $40.66 and a 52 week high of $64.97. The company has a market cap of $8.29 billion, a PE ratio of 22.22, a P/E/G ratio of 0.93 and a beta of 0.28. The company has a 50-day simple moving average of $57.96 and a 200 day simple moving average of $54.80.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, January 28th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.34 by $0.11. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. New Oriental Education & Technology Group had a net margin of 7.40% and a return on equity of 11.19%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 earnings per share. On average, analysts anticipate that New Oriental Education & Technology Group will post 2.75 earnings per share for the current year.

Institutional Trading of New Oriental Education & Technology Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its holdings in New Oriental Education & Technology Group by 7,314.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock worth $28,000 after acquiring an additional 512 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter worth approximately $37,000. Hantz Financial Services Inc. raised its stake in shares of New Oriental Education & Technology Group by 738.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock worth $49,000 after purchasing an additional 797 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the 4th quarter valued at approximately $72,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter valued at approximately $111,000.

About New Oriental Education & Technology Group

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.