Short Interest in New Oriental Education & Technology Group, Inc. (NYSE:EDU) Drops By 13.7%

New Oriental Education & Technology Group, Inc. (NYSE:EDU) saw a large decline in short interest in January. As of January 30th, there was short interest totaling 3,628,253 shares, a decline of 13.7% from the January 15th total of 4,202,725 shares. Based on an average daily volume of 1,367,556 shares, the days-to-cover ratio is presently 2.7 days. Currently, 2.7% of the shares of the company are short sold. Currently, 2.7% of the shares of the company are short sold. Based on an average daily volume of 1,367,556 shares, the days-to-cover ratio is presently 2.7 days.

New Oriental Education & Technology Group Price Performance

New Oriental Education & Technology Group stock traded up $0.47 during mid-day trading on Wednesday, hitting $59.47. 126,683 shares of the company were exchanged, compared to its average volume of 1,128,605. New Oriental Education & Technology Group has a 12-month low of $40.66 and a 12-month high of $64.97. The company has a market capitalization of $9.40 billion, a P/E ratio of 25.20, a PEG ratio of 1.00 and a beta of 0.27. The business’s 50 day simple moving average is $57.38 and its two-hundred day simple moving average is $54.07.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. Equities research analysts predict that New Oriental Education & Technology Group will post 2.75 earnings per share for the current year.

Institutional Trading of New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. OLD Mission Capital LLC acquired a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth $382,000. Balyasny Asset Management L.P. acquired a new position in New Oriental Education & Technology Group in the fourth quarter valued at $9,009,000. Schonfeld Strategic Advisors LLC purchased a new position in New Oriental Education & Technology Group during the fourth quarter worth about $271,000. DV Equities LLC purchased a new position in New Oriental Education & Technology Group during the fourth quarter worth about $2,377,000. Finally, Laird Norton Wetherby Trust Company LLC acquired a new stake in New Oriental Education & Technology Group in the 4th quarter worth about $901,000.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EDU shares. Wall Street Zen raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. JPMorgan Chase & Co. raised their target price on New Oriental Education & Technology Group from $60.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday, December 29th. Zacks Research upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Finally, China Renaissance raised shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently 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.