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 increase in short interest in February. As of February 13th, there was short interest totaling 5,235,283 shares, an increase of 44.3% from the January 29th total of 3,628,253 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average daily trading volume, of 1,465,496 shares, the days-to-cover ratio is currently 3.6 days. Based on an average daily trading volume, of 1,465,496 shares, the days-to-cover ratio is currently 3.6 days. Approximately 3.9% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Zacks Research raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. New Street Research set a $68.00 price target on shares of New Oriental Education & Technology Group in a report on Wednesday, January 28th. Wall Street Zen raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Weiss Ratings restated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research report on Monday, December 29th. 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 investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, New Oriental Education & Technology Group currently 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 EDU. Caitong International Asset Management Co. Ltd grew its position in New Oriental Education & Technology Group by 7,314.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock worth $28,000 after acquiring an additional 512 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter valued at approximately $37,000. Hantz Financial Services Inc. boosted its holdings in shares of New Oriental Education & Technology Group by 738.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock worth $49,000 after purchasing an additional 797 shares during the period. Atlas Capital Advisors Inc. bought a new position in shares of New Oriental Education & Technology Group during the 4th quarter valued at approximately $72,000. Finally, Raymond James Financial Inc. bought a new position in shares of New Oriental Education & Technology Group during the 2nd quarter valued at approximately $111,000.

New Oriental Education & Technology Group Stock Down 1.9%

NYSE EDU traded down $1.07 during trading on Friday, hitting $54.67. 666,184 shares of the stock traded hands, compared to its average volume of 1,136,648. The company has a market capitalization of $8.64 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 0.93 and a beta of 0.27. New Oriental Education & Technology Group has a 12-month low of $40.66 and a 12-month high of $64.97. The firm has a 50-day simple moving average of $57.99 and a 200-day simple moving average of $54.70.

New Oriental Education & Technology Group (NYSE:EDU) last posted its 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. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. New Oriental Education & Technology Group had a net margin of 7.40% and a return on equity of 11.19%. New Oriental Education & Technology Group’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.22 earnings per share. As a group, research analysts predict that New Oriental Education & Technology Group will post 2.75 EPS 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.