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

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

Institutional Trading of New Oriental Education & Technology Group

Several institutional investors have recently added to or reduced their stakes in the business. Amiral Gestion bought a new stake in New Oriental Education & Technology Group during the fourth quarter valued at $1,027,000. GF Fund Management CO. LTD. acquired a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth about $2,176,000. Vise Technologies Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth about $228,000. Point72 Asset Management L.P. acquired a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth about $3,690,000. Finally, Point72 Hong Kong Ltd acquired a new position in New Oriental Education & Technology Group during the 4th quarter valued at about $22,139,000.

New Oriental Education & Technology Group Trading Down 1.0 %

Shares of NYSE EDU traded down $0.55 during midday trading on Thursday, reaching $52.11. 424,490 shares of the stock were exchanged, compared to its average volume of 1,748,016. The company has a market capitalization of $8.84 billion, a P/E ratio of 22.17 and a beta of 0.47. New Oriental Education & Technology Group has a 52-week low of $44.46 and a 52-week high of $95.88. The stock has a 50 day moving average price of $51.27 and a 200-day moving average price of $59.34.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley cut shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Macquarie cut shares of 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. JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Citigroup cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $83.00 to $50.00 in a research note on Friday, January 24th. Finally, StockNews.com cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.