New Oriental Education & Technology Group Inc. (NYSE:EDU) Sees Large Growth in Short Interest

New Oriental Education & Technology Group Inc. (NYSE:EDU) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 4,580,000 shares, a growth of 7.0% from the March 31st total of 4,280,000 shares. Based on an average daily volume of 1,760,000 shares, the short-interest ratio is currently 2.6 days. Currently, 2.8% of the company’s shares are sold short.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of large investors have recently modified their holdings of EDU. AFG Fiduciary Services Limited Partnership acquired a new position in New Oriental Education & Technology Group during the third quarter worth $218,000. Quaero Capital S.A. bought a new position in New Oriental Education & Technology Group in the 3rd quarter valued at about $1,766,000. Aubrey Capital Management Ltd boosted its stake in New Oriental Education & Technology Group by 18.5% during the 3rd quarter. Aubrey Capital Management Ltd now owns 299,856 shares of the company’s stock valued at $17,376,000 after purchasing an additional 46,800 shares during the last quarter. WT Asset Management Ltd increased its holdings in New Oriental Education & Technology Group by 48.9% during the 3rd quarter. WT Asset Management Ltd now owns 1,899,128 shares of the company’s stock worth $111,194,000 after purchasing an additional 623,435 shares in the last quarter. Finally, XY Capital Ltd raised its stake in shares of New Oriental Education & Technology Group by 376.4% in the third quarter. XY Capital Ltd now owns 102,903 shares of the company’s stock worth $6,025,000 after purchasing an additional 81,303 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EDU shares. Citigroup increased their price target on New Oriental Education & Technology Group from $66.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. StockNews.com lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Morgan Stanley raised their price target on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.67.

New Oriental Education & Technology Group Stock Performance

Shares of New Oriental Education & Technology Group stock opened at $78.39 on Thursday. The stock has a market capitalization of $13.30 billion, a PE ratio of 42.15 and a beta of 0.52. New Oriental Education & Technology Group has a 52 week low of $35.70 and a 52 week high of $98.20. The stock has a 50 day moving average price of $88.50 and a two-hundred day moving average price of $79.43.

About New Oriental Education & Technology Group

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.