New Oriental Education & Technology Group Inc. (NYSE:EDU) Short Interest Up 12.2% in May

New Oriental Education & Technology Group Inc. (NYSE:EDUGet Free Report) was the target of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 6,150,000 shares, a growth of 12.2% from the May 15th total of 5,480,000 shares. Based on an average trading volume of 1,650,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 3.7% of the company’s stock are sold short.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its stake in New Oriental Education & Technology Group by 92.7% during the third quarter. FMR LLC now owns 6,631,500 shares of the company’s stock worth $388,274,000 after purchasing an additional 3,189,254 shares during the period. Schroder Investment Management Group increased its holdings in shares of New Oriental Education & Technology Group by 22.8% during the third quarter. Schroder Investment Management Group now owns 4,094,455 shares of the company’s stock worth $239,730,000 after buying an additional 760,062 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of New Oriental Education & Technology Group by 37.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,374,408 shares of the company’s stock worth $173,997,000 after buying an additional 646,122 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of New Oriental Education & Technology Group by 141.4% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,608,792 shares of the company’s stock worth $117,892,000 after buying an additional 942,392 shares in the last quarter. Finally, Keystone Investors PTE Ltd. increased its holdings in shares of New Oriental Education & Technology Group by 1.1% during the fourth quarter. Keystone Investors PTE Ltd. now owns 1,429,515 shares of the company’s stock worth $104,755,000 after buying an additional 15,842 shares in the last quarter.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE:EDU traded down $0.14 during midday trading on Tuesday, hitting $73.58. The company’s stock had a trading volume of 1,277,118 shares, compared to its average volume of 1,732,291. The stock’s 50 day simple moving average is $81.86 and its 200 day simple moving average is $82.48. New Oriental Education & Technology Group has a fifty-two week low of $36.22 and a fifty-two week high of $98.20. The stock has a market capitalization of $12.49 billion, a price-to-earnings ratio of 39.63 and a beta of 0.48.

New Oriental Education & Technology Group (NYSE:EDUGet Free Report) last released its earnings results on Wednesday, April 24th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.06). New Oriental Education & Technology Group had a net margin of 7.72% and a return on equity of 8.11%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.09 billion. As a group, analysts anticipate that New Oriental Education & Technology Group will post 1.86 EPS for the current year.

Analyst Ratings Changes

EDU has been the topic of several analyst reports. Morgan Stanley increased their target price 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. HSBC initiated coverage on shares of New Oriental Education & Technology Group in a research report on Wednesday, May 29th. They set a “buy” rating and a $110.00 target price on the stock. Finally, Citigroup increased their target price on shares of New Oriental Education & Technology Group from $66.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.75.

View Our Latest Research Report on EDU

About New Oriental Education & Technology Group

(Get Free Report)

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.

See Also

Receive News & Ratings for New Oriental Education & Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Oriental Education & Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.