Short Interest in New Oriental Education & Technology Group, Inc. (NYSE:EDU) Declines By 42.4%

New Oriental Education & Technology Group, Inc. (NYSE:EDU) saw a large decrease in short interest in March. As of March 31st, there was short interest totaling 2,799,582 shares, a decrease of 42.4% from the March 15th total of 4,856,468 shares. Based on an average daily volume of 827,124 shares, the short-interest ratio is presently 3.4 days. Approximately 2.1% of the company’s shares are sold short.

Institutional Trading of New Oriental Education & Technology Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. TD Waterhouse Canada Inc. raised its stake in shares of New Oriental Education & Technology Group by 2.5% in the third quarter. TD Waterhouse Canada Inc. now owns 9,108 shares of the company’s stock worth $485,000 after purchasing an additional 218 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of New Oriental Education & Technology Group by 2.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 12,922 shares of the company’s stock worth $686,000 after purchasing an additional 300 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of New Oriental Education & Technology Group by 10.6% in 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 during the last quarter. Vident Advisory LLC raised its stake in shares of New Oriental Education & Technology Group by 8.2% in the fourth quarter. Vident Advisory LLC now owns 5,939 shares of the company’s stock worth $327,000 after purchasing an additional 449 shares during the last quarter. Finally, Ieq Capital LLC raised its stake in shares of New Oriental Education & Technology Group by 11.5% in the fourth quarter. Ieq Capital LLC now owns 4,760 shares of the company’s stock worth $262,000 after purchasing an additional 492 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently commented on EDU. Zacks Research lowered New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. New Street Research set a $68.00 target price on New Oriental Education & Technology Group in a research report on Wednesday, January 28th. HSBC upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. Finally, China Renaissance upgraded New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, New Oriental Education & Technology Group currently has an average rating of “Moderate Buy” and a consensus price target of $65.84.

New Oriental Education & Technology Group Stock Down 1.7%

NYSE:EDU traded down $0.97 on Wednesday, hitting $55.49. The stock had a trading volume of 2,153,279 shares, compared to its average volume of 724,451. The business’s fifty day moving average is $56.68 and its 200 day moving average is $55.94. The company has a market cap of $8.77 billion, a PE ratio of 23.51, a P/E/G ratio of 0.97 and a beta of 0.32. New Oriental Education & Technology Group has a 52 week low of $41.62 and a 52 week high of $64.97.

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.