Short Interest in New Oriental Education & Technology Group Inc. (NYSE:EDU) Drops By 7.2%

New Oriental Education & Technology Group Inc. (NYSE:EDU) saw a large decrease in short interest in November. As of November 30th, there was short interest totalling 5,690,000 shares, a decrease of 7.2% from the November 15th total of 6,130,000 shares. Approximately 3.6% of the company’s shares are short sold. Based on an average daily volume of 2,010,000 shares, the short-interest ratio is currently 2.8 days.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Morgan Stanley set a $83.00 target price on New Oriental Education & Technology Group in a report on Thursday, October 17th.

New Oriental Education & Technology Group Stock Down 0.9 %

NYSE:EDU opened at $59.27 on Wednesday. The firm has a market capitalization of $10.06 billion, a P/E ratio of 25.33 and a beta of 0.46. The company has a fifty day moving average of $62.91 and a 200 day moving average of $68.08. New Oriental Education & Technology Group has a 52 week low of $54.00 and a 52 week high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.33 by $0.27. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 earnings per share. As a group, analysts anticipate that New Oriental Education & Technology Group will post 2.94 EPS for the current year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Ridgewood Investments LLC purchased a new position in shares of New Oriental Education & Technology Group during the second quarter valued at approximately $43,000. Ashton Thomas Private Wealth LLC bought a new position in New Oriental Education & Technology Group in the 2nd quarter worth $50,000. Blue Trust Inc. lifted its position in shares of New Oriental Education & Technology Group by 782.4% in the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company’s stock worth $62,000 after purchasing an additional 712 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after purchasing an additional 206 shares in the last quarter. Finally, Hancock Whitney Corp purchased a new position in shares of New Oriental Education & Technology Group during the second quarter valued at about $212,000.

New Oriental Education & Technology Group Company Profile

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.