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

New Oriental Education & Technology Group, Inc. (NYSE:EDU) was the recipient of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 4,202,725 shares, a decrease of 23.0% from the December 31st total of 5,456,992 shares. Based on an average daily volume of 697,946 shares, the short-interest ratio is presently 6.0 days. Currently, 3.1% of the shares of the stock are sold short. Currently, 3.1% of the shares of the stock are sold short. Based on an average daily volume of 697,946 shares, the short-interest ratio is presently 6.0 days.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EDU shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. Zacks Research upgraded New Oriental Education & Technology Group from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. New Street Research set a $68.00 price target on New Oriental Education & Technology Group in a research report on Wednesday, January 28th. JPMorgan Chase & Co. increased their price objective on New Oriental Education & Technology Group from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, China Renaissance upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.84.

New Oriental Education & Technology Group Stock Up 2.3%

EDU stock traded up $1.43 during midday trading on Tuesday, reaching $63.51. 1,909,819 shares of the company’s stock traded hands, compared to its average volume of 1,075,201. The company has a 50-day simple moving average of $55.66 and a two-hundred day simple moving average of $53.05. New Oriental Education & Technology Group has a 1-year low of $40.66 and a 1-year high of $63.80. The company has a market cap of $10.04 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.06 and a beta of 0.27.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. New Oriental Education & Technology Group had a return on equity of 11.19% and a net margin of 7.40%.The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 earnings per share. Equities research analysts forecast that New Oriental Education & Technology Group will post 2.75 EPS for the current year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC lifted its stake in shares of New Oriental Education & Technology Group by 26.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,881 shares of the company’s stock valued at $317,000 after acquiring an additional 1,226 shares during the period. Bessemer Group Inc. bought a new stake in New Oriental Education & Technology Group during the 2nd quarter worth about $37,000. Y Intercept Hong Kong Ltd acquired a new position in New Oriental Education & Technology Group during the 2nd quarter valued at about $7,498,000. Hantz Financial Services Inc. lifted its position in 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 purchasing an additional 797 shares during the period. Finally, Carrhae Capital LLP bought a new position in shares of New Oriental Education & Technology Group in the 2nd quarter valued at about $18,717,000.

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.