New Oriental Education & Technology Group Inc. (NYSE:EDU) Short Interest Update

New Oriental Education & Technology Group Inc. (NYSE:EDU) saw a large drop in short interest in February. As of February 28th, there was short interest totalling 8,640,000 shares, a drop of 13.4% from the February 13th total of 9,980,000 shares. Based on an average daily volume of 1,980,000 shares, the short-interest ratio is currently 4.4 days. Currently, 5.5% of the shares of the company are sold short.

New Oriental Education & Technology Group Stock Performance

Shares of EDU stock traded down $0.55 on Thursday, hitting $52.11. 424,490 shares of the stock traded hands, compared to its average volume of 1,748,016. The firm’s 50-day moving average price is $51.27 and its two-hundred day moving average price is $59.34. The stock has a market capitalization of $8.84 billion, a PE ratio of 22.17 and a beta of 0.47. New Oriental Education & Technology Group has a twelve month low of $44.46 and a twelve month high of $95.88.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their price objective for the company from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $83.00 to $52.00 in a report on Wednesday, January 22nd. Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $83.00 to $50.00 in a report on Friday, January 24th. Finally, StockNews.com lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.20.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of New Oriental Education & Technology Group by 192.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after purchasing an additional 543,810 shares in the last quarter. Monolith Management Ltd acquired a new position in New Oriental Education & Technology Group during the 3rd quarter worth approximately $15,168,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in New Oriental Education & Technology Group by 3.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company’s stock worth $44,940,000 after acquiring an additional 19,401 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in New Oriental Education & Technology Group by 12.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock worth $7,573,000 after purchasing an additional 11,423 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in New Oriental Education & Technology Group during the 3rd quarter worth approximately $27,425,000.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.