New Oriental Education & Technology Group (NYSE:EDU) Shares Pass Above 200 Day Moving Average – Should You Sell?

New Oriental Education & Technology Group, Inc. (NYSE:EDU) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $52.77 and traded as high as $59.14. New Oriental Education & Technology Group shares last traded at $57.9170, with a volume of 579,937 shares traded.

Analyst Ratings Changes

EDU has been the topic of a number of recent research reports. Wall Street Zen downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a report on Tuesday, July 21st. New Street Research set a $56.50 price target on shares of New Oriental Education & Technology Group in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and lowered their price target for the company from $67.00 to $65.00 in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.54.

New Oriental Education & Technology Group Stock Performance

The stock has a market cap of $9.15 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. The firm has a fifty day moving average price of $51.54 and a 200 day moving average price of $52.77.

Insider Activity

In other New Oriental Education & Technology Group news, Director Chenggang Zhou sold 56,948 shares of the stock in a transaction dated 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 sale, the director directly owned 429,998 shares in the company, valued at approximately $24,436,786.34. This trade represents a 11.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Yue Zhuge sold 1,600 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $59.55, for a total value of $95,280.00. Following the completion of the sale, the director directly owned 2,000 shares of the company’s stock, valued at approximately $119,100. This represents a 44.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 72,170 shares of company stock worth $4,100,348 over the last ninety days. 15.50% of the stock is currently owned by corporate insiders.

Institutional Trading of New Oriental Education & Technology Group

A number of institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd increased its stake in New Oriental Education & Technology Group by 7,314.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock valued at $28,000 after purchasing an additional 512 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of New Oriental Education & Technology Group by 106.9% during the first quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $31,000 after buying an additional 279 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth $72,000. Raymond James Financial Inc. purchased a new stake in shares of New Oriental Education & Technology Group during the second quarter valued at $111,000. Finally, Leonteq Securities AG purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter valued at $155,000.

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.