New Oriental Education & Technology Group (NYSE:EDU) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $52.73 and traded as high as $55.80. New Oriental Education & Technology Group shares last traded at $55.5550, with a volume of 216,212 shares traded.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EDU shares. Wall Street Zen downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. New Street Research set a $56.50 price objective on New Oriental Education & Technology Group in a research note on Thursday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of New Oriental Education & Technology Group in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group raised New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $67.00 to $65.00 in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.17.

New Oriental Education & Technology Group Stock Down 0.6%

The stock has a market cap of $8.74 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 0.59 and a beta of 0.19. The business’s 50-day simple moving average is $56.14 and its two-hundred day simple moving average is $52.75.

Insiders Place Their Bets

In other news, Director Chenggang Zhou sold 56,948 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $56.83, for a total value of $3,236,354.84. Following the completion of the transaction, the director directly owned 429,998 shares of the company’s stock, valued at $24,436,786.34. This trade represents a 11.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yue Zhuge sold 1,600 shares of New Oriental Education & Technology Group stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $59.55, for a total value of $95,280.00. Following the completion of the transaction, the director owned 2,000 shares of the company’s stock, valued at approximately $119,100. This trade represents a 44.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 72,170 shares of company stock worth $4,100,348 in the last three months. Insiders own 15.50% of the company’s stock.

Institutional Trading of New Oriental Education & Technology Group

A number of institutional investors have recently added to or reduced their stakes in EDU. AIA Group Ltd grew its stake in New Oriental Education & Technology Group by 185.2% during the first quarter. AIA Group Ltd now owns 93,342 shares of the company’s stock valued at $5,286,000 after acquiring an additional 60,611 shares in the last quarter. Lazard Asset Management LLC bought a new position in New Oriental Education & Technology Group in the 1st quarter valued at $18,528,000. Aubrey Capital Management Ltd purchased a new position in shares of New Oriental Education & Technology Group during the 1st quarter valued at $9,888,000. Amundi grew its position in shares of New Oriental Education & Technology Group by 14.4% during the 1st quarter. Amundi now owns 507,774 shares of the company’s stock valued at $28,755,000 after purchasing an additional 63,845 shares in the last quarter. Finally, Triata Capital Ltd increased its holdings in shares of New Oriental Education & Technology Group by 8.0% in the fourth quarter. Triata Capital Ltd now owns 396,786 shares of the company’s stock worth $21,835,000 after purchasing an additional 29,412 shares during the period.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group is a China-based education services provider founded in 1993 by Michael Yu. The company offers educational programs and services for students, families and adult learners, with operations focused primarily on China.

Its business activities have included test preparation for international examinations, overseas study consulting, language training, online education and educational materials. New Oriental has also provided tutoring and other education services for students in primary and secondary school, as well as programs designed to support domestic academic development and professional skills.

The company serves customers through learning centers, schools and digital platforms across multiple regions of China.