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

New Oriental Education & Technology Group Inc. (NYSE:EDU) was the target of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 5,690,000 shares, a decline of 7.2% from the November 15th total of 6,130,000 shares. Currently, 3.6% of the shares of the stock are short sold. Based on an average trading volume of 2,010,000 shares, the days-to-cover ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EDU shares. StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Morgan Stanley set a $83.00 price target on shares of New Oriental Education & Technology Group in a research report on Thursday, October 17th.

New Oriental Education & Technology Group Stock Down 2.1 %

Shares of NYSE:EDU traded down $1.28 during trading on Monday, reaching $59.75. 1,795,696 shares of the company traded hands, compared to its average volume of 1,857,825. The firm has a fifty day simple moving average of $63.30 and a 200 day simple moving average of $68.25. New Oriental Education & Technology Group has a 1-year low of $54.00 and a 1-year high of $98.20. The firm has a market cap of $10.14 billion, a P/E ratio of 25.54 and a beta of 0.46.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.27. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The business’s revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. As a group, research analysts anticipate that New Oriental Education & Technology Group will post 2.94 EPS for the current year.

Institutional Trading of New Oriental Education & Technology Group

A number of institutional investors have recently added to or reduced their stakes in the business. ABS Direct Equity Fund LLC lifted its stake in shares of New Oriental Education & Technology Group by 17.5% in the 3rd quarter. ABS Direct Equity Fund LLC now owns 7,400 shares of the company’s stock valued at $561,000 after purchasing an additional 1,100 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of New Oriental Education & Technology Group in the third quarter worth about $27,425,000. XTX Topco Ltd bought a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter worth about $1,860,000. Janus Henderson Group PLC increased its holdings in shares of New Oriental Education & Technology Group by 11.9% during the 3rd quarter. Janus Henderson Group PLC now owns 30,895 shares of the company’s stock valued at $2,342,000 after acquiring an additional 3,287 shares during the last quarter. Finally, Centiva Capital LP bought a new position in shares of New Oriental Education & Technology Group in the 3rd quarter valued at approximately $1,261,000.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.