New Oriental Education & Technology Group, Inc. (NYSE:EDU) Sees Large 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 February. As of February 13th, there was short interest totaling 5,235,283 shares, a growth of 44.3% from the January 29th total of 3,628,253 shares. Based on an average daily volume of 1,465,496 shares, the days-to-cover ratio is currently 3.6 days. Currently, 3.9% of the company’s shares are short sold. Currently, 3.9% of the company’s shares are short sold. Based on an average daily volume of 1,465,496 shares, the days-to-cover ratio is currently 3.6 days.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several institutional investors have recently made changes to their positions in EDU. Caitong International Asset Management Co. Ltd grew its position in New Oriental Education & Technology Group by 7,314.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock valued at $28,000 after buying an additional 512 shares during the period. Bessemer Group Inc. purchased a new position in shares of New Oriental Education & Technology Group during the 2nd quarter worth $37,000. Hantz Financial Services Inc. grew its position in shares of New Oriental Education & Technology Group by 738.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock valued at $49,000 after acquiring an additional 797 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth $72,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter worth $111,000.

New Oriental Education & Technology Group Trading Down 1.9%

EDU stock traded down $1.07 on Friday, hitting $54.67. The company had a trading volume of 666,184 shares, compared to its average volume of 1,136,648. New Oriental Education & Technology Group has a 12-month low of $40.66 and a 12-month high of $64.97. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 0.93 and a beta of 0.27. The stock’s 50-day simple moving average is $57.99 and its 200 day simple moving average is $54.70.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings results on Wednesday, January 28th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.11. New Oriental Education & Technology Group had a return on equity of 11.19% and a net margin of 7.40%.The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the firm earned $0.22 EPS. The company’s revenue was up 14.7% compared to the same quarter last year. Research analysts forecast that New Oriental Education & Technology Group will post 2.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EDU. Weiss Ratings restated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. Zacks Research raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. New Street Research set a $68.00 price target on shares of New Oriental Education & Technology Group in a research note on Wednesday, January 28th. 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. Finally, HSBC raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group presently has an average rating of “Buy” and an average target price of $65.84.

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.