Short Interest in New Oriental Education & Technology Group, Inc. (NYSE:EDU) Drops By 13.7%

New Oriental Education & Technology Group, Inc. (NYSE:EDU) was the recipient of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 3,628,253 shares, a drop of 13.7% from the January 15th total of 4,202,725 shares. Currently, 2.7% of the shares of the company are sold short. Based on an average trading volume of 1,367,556 shares, the short-interest ratio is presently 2.7 days. Based on an average trading volume of 1,367,556 shares, the short-interest ratio is presently 2.7 days. Currently, 2.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

EDU has been the topic of a number of recent analyst reports. The Goldman Sachs Group reissued a “neutral” rating and set a $60.00 price target on shares of New Oriental Education & Technology Group in a report on Wednesday, October 29th. Zacks Research upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Wall Street Zen upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. HSBC raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 28th. Finally, China Renaissance raised shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $65.84.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. OPTIMAS CAPITAL Ltd acquired a new stake in shares of New Oriental Education & Technology Group in the third quarter valued at $1,974,000. Alkeon Capital Management LLC increased its holdings in New Oriental Education & Technology Group by 101.3% during the 2nd quarter. Alkeon Capital Management LLC now owns 2,193,486 shares of the company’s stock worth $118,339,000 after purchasing an additional 1,104,000 shares during the period. Jump Financial LLC raised its position in New Oriental Education & Technology Group by 64.5% in the 2nd quarter. Jump Financial LLC now owns 171,108 shares of the company’s stock valued at $9,231,000 after purchasing an additional 67,108 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in New Oriental Education & Technology Group in the 2nd quarter valued at about $621,000. Finally, Quadrature Capital Ltd purchased a new position in shares of New Oriental Education & Technology Group in the 2nd quarter valued at about $1,248,000.

New Oriental Education & Technology Group Stock Performance

Shares of New Oriental Education & Technology Group stock traded up $0.18 during trading hours on Tuesday, hitting $58.88. The company’s stock had a trading volume of 129,678 shares, compared to its average volume of 1,142,808. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 24.95, a P/E/G ratio of 1.00 and a beta of 0.27. New Oriental Education & Technology Group has a twelve month low of $40.66 and a twelve month high of $64.97. The firm has a fifty day moving average of $57.27 and a 200-day moving average of $53.97.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. New Oriental Education & Technology Group had a net margin of 7.40% and a return on equity of 11.19%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business earned $0.22 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, sell-side analysts expect that New Oriental Education & Technology Group will post 2.75 earnings per share for the current fiscal year.

About New Oriental Education & Technology Group

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.