New Oriental Education & Technology Group Inc. (NYSE:EDU) Sees Significant Growth in Short Interest

New Oriental Education & Technology Group Inc. (NYSE:EDU) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 4,580,000 shares, a growth of 7.0% from the March 31st total of 4,280,000 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average daily volume of 1,760,000 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. AFG Fiduciary Services Limited Partnership bought a new stake in shares of New Oriental Education & Technology Group in the 3rd quarter valued at approximately $218,000. Quaero Capital S.A. acquired a new stake in New Oriental Education & Technology Group during the third quarter worth about $1,766,000. Aubrey Capital Management Ltd boosted its stake in New Oriental Education & Technology Group by 18.5% in the third quarter. Aubrey Capital Management Ltd now owns 299,856 shares of the company’s stock valued at $17,376,000 after acquiring an additional 46,800 shares during the period. WT Asset Management Ltd boosted its position in New Oriental Education & Technology Group by 48.9% during the 3rd quarter. WT Asset Management Ltd now owns 1,899,128 shares of the company’s stock valued at $111,194,000 after purchasing an additional 623,435 shares during the period. Finally, XY Capital Ltd lifted its position in New Oriental Education & Technology Group by 376.4% in the 3rd quarter. XY Capital Ltd now owns 102,903 shares of the company’s stock valued at $6,025,000 after purchasing an additional 81,303 shares during the last quarter.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE EDU opened at $78.50 on Thursday. The stock’s 50-day simple moving average is $88.50 and its 200-day simple moving average is $79.43. New Oriental Education & Technology Group has a 1 year low of $35.70 and a 1 year high of $98.20. The firm has a market cap of $13.32 billion, a price-to-earnings ratio of 42.15 and a beta of 0.52.

Analyst Upgrades and Downgrades

Several research firms have commented on EDU. Citigroup lifted their price target on New Oriental Education & Technology Group from $66.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Morgan Stanley upped their price target on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. 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, January 4th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.67.

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.