Short Interest in New Oriental Education & Technology Group, Inc. (NYSE:EDU) Drops By 13.7%

New Oriental Education & Technology Group, Inc. (NYSE:EDU) saw a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 3,628,253 shares, a decline of 13.7% from the January 15th total of 4,202,725 shares. Based on an average trading volume of 1,367,556 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.7% of the company’s stock are sold short. Approximately 2.7% of the company’s stock are sold short. Based on an average trading volume of 1,367,556 shares, the days-to-cover ratio is currently 2.7 days.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EDU shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research report on Monday, December 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $60.00 price objective on shares of New Oriental Education & Technology Group in a research report on Wednesday, October 29th. China Renaissance upgraded New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. New Street Research set a $68.00 target price on New Oriental Education & Technology Group in a research note on Wednesday, January 28th. Finally, Zacks Research raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $65.84.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd lifted its position in shares of New Oriental Education & Technology Group by 7,314.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock valued at $28,000 after acquiring an additional 512 shares during the period. Bessemer Group Inc. acquired a new position in New Oriental Education & Technology Group during the second quarter worth $37,000. Hantz Financial Services Inc. boosted its position in New Oriental Education & Technology Group by 738.0% during the second 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 New Oriental Education & Technology Group in the fourth quarter valued at $72,000. Finally, Raymond James Financial Inc. acquired a new stake in New Oriental Education & Technology Group in the second quarter valued at $111,000.

New Oriental Education & Technology Group Stock Up 0.3%

NYSE EDU traded up $0.18 during trading hours on Tuesday, hitting $58.88. 129,678 shares of the stock were exchanged, compared to its average volume of 1,142,808. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 1.00 and a beta of 0.27. New Oriental Education & Technology Group has a 12-month low of $40.66 and a 12-month high of $64.97. The stock has a 50-day moving average of $57.27 and a 200 day moving average of $53.97.

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

New Oriental Education & Technology Group Company Profile

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.