New Oriental Education & Technology Group (NYSE:EDU) Stock Price Up 4.5% – Here’s Why

New Oriental Education & Technology Group, Inc. (NYSE:EDU)’s share price traded up 4.5% during trading on Thursday . The stock traded as high as $58.34 and last traded at $58.5780. Approximately 106,354 shares traded hands during trading, a decline of 87% from the average session volume of 797,974 shares. The stock had previously closed at $56.08.

Analysts Set New Price Targets

EDU has been the subject of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a report on Tuesday, July 21st. New Street Research set a $56.50 price target on shares of New Oriental Education & Technology Group in a report on Thursday, July 30th. Wall Street Zen downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and cut their price objective for the company from $67.00 to $65.00 in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.92.

New Oriental Education & Technology Group Price Performance

The business has a 50-day moving average of $55.21 and a two-hundred day moving average of $52.63. The company has a market cap of $9.10 billion, a P/E ratio of 19.51, a P/E/G ratio of 0.58 and a beta of 0.23.

Insider Activity

In other New Oriental Education & Technology Group news, Director Chenggang Zhou sold 56,948 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the completion of the sale, the director directly owned 429,998 shares of the company’s stock, valued at approximately $24,436,786.34. This represents a 11.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Yue Zhuge sold 1,600 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $59.55, for a total transaction of $95,280.00. Following the completion of the sale, the director owned 2,000 shares in the company, valued at $119,100. This represents a 44.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 72,170 shares of company stock valued at $4,100,348. Insiders own 15.50% of the company’s stock.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in New Oriental Education & Technology Group by 106.9% in the first quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $31,000 after purchasing an additional 279 shares during the period. PNC Financial Services Group Inc. lifted its stake in New Oriental Education & Technology Group by 10.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company’s stock worth $186,000 after purchasing an additional 324 shares in the last quarter. Persistent Asset Partners Ltd boosted its position in shares of New Oriental Education & Technology Group by 11.0% during the fourth quarter. Persistent Asset Partners Ltd now owns 11,825 shares of the company’s stock worth $651,000 after buying an additional 1,172 shares during the period. Hantz Financial Services Inc. boosted its position in shares of New Oriental Education & Technology Group by 42.7% during the fourth quarter. Hantz Financial Services Inc. now owns 4,845 shares of the company’s stock worth $267,000 after buying an additional 1,450 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG grew its stake in shares of New Oriental Education & Technology Group by 10.9% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 15,869 shares of the company’s stock valued at $729,000 after buying an additional 1,555 shares in the last quarter.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc is a China-based education services provider that offers learning programs through online platforms and physical schools and learning centers. The company serves students, families and adult learners with services covering language training, test preparation, educational consulting and other academic programs.

Its offerings have historically included preparation for overseas admissions and examinations such as TOEFL, IELTS, SAT, GRE and GMAT, as well as overseas study consulting, domestic examination preparation, primary and secondary education services, and educational materials and software.