New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down – Time to Sell?

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) gapped down prior to trading on Wednesday . The stock had previously closed at $56.46, but opened at $54.29. New Oriental Education & Technology Group shares last traded at $53.4650, with a volume of 122,073 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday, December 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 price objective on New Oriental Education & Technology Group in a research report on Wednesday, January 28th. Zacks Research cut shares of New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Wall Street Zen raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.84.

New Oriental Education & Technology Group Price Performance

The firm has a 50-day moving average of $56.60 and a 200 day moving average of $55.95. The company has a market capitalization of $9.19 billion, a PE ratio of 24.65, a PEG ratio of 0.95 and a beta of 0.32.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EDU. Caitong International Asset Management Co. Ltd boosted its holdings in New Oriental Education & Technology Group by 7,314.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock worth $28,000 after purchasing an additional 512 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in New Oriental Education & Technology Group during the 4th quarter valued at $72,000. Raymond James Financial Inc. purchased a new stake in New Oriental Education & Technology Group during the 2nd quarter valued at $111,000. Leonteq Securities AG bought a new position in shares of New Oriental Education & Technology Group during the 4th quarter valued at $155,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of New Oriental Education & Technology Group by 10.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company’s stock worth $186,000 after buying an additional 324 shares during the last quarter.

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.