New Oriental Education & Technology Group (NYSE:EDU) Shares Pass Above 200-Day Moving Average – Here’s What Happened

New Oriental Education & Technology Group, Inc. (NYSE:EDU)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $52.60 and traded as high as $55.74. New Oriental Education & Technology Group shares last traded at $55.11, with a volume of 394,719 shares changing hands.

Analysts Set New Price Targets

Several research firms recently commented on EDU. New Street Research set a $56.50 price target on shares of New Oriental Education & Technology Group in a research note on Thursday, July 30th. The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and decreased their price target for the company from $67.00 to $65.00 in a research note on Thursday, June 11th. Wall Street Zen downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.92.

New Oriental Education & Technology Group Price Performance

The business has a fifty day simple moving average of $55.09 and a two-hundred day simple moving average of $52.61. The company has a market cap of $8.85 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 0.59 and a beta of 0.23.

Insider Activity

In other New Oriental Education & Technology Group news, Director Yue Zhuge sold 1,600 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $59.55, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Chenggang Zhou sold 56,948 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the completion of the sale, the director owned 429,998 shares in the company, valued at $24,436,786.34. This represents a 11.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 72,170 shares of company stock worth $4,100,348 in the last quarter. 15.50% of the stock is owned by insiders.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several institutional investors have recently bought and sold shares of EDU. EverSource Wealth Advisors LLC grew its stake in New Oriental Education & Technology Group by 106.9% during the 1st 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 last quarter. PNC Financial Services Group Inc. boosted its holdings in New Oriental Education & Technology Group by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company’s stock worth $186,000 after acquiring an additional 324 shares in the last quarter. Persistent Asset Partners Ltd grew its stake in shares of New Oriental Education & Technology Group by 11.0% during the fourth quarter. Persistent Asset Partners Ltd now owns 11,825 shares of the company’s stock worth $651,000 after acquiring an additional 1,172 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of New Oriental Education & Technology Group by 42.7% during the fourth quarter. Hantz Financial Services Inc. now owns 4,845 shares of the company’s stock worth $267,000 after acquiring an additional 1,450 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG increased its holdings in shares of New Oriental Education & Technology Group by 10.9% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 15,869 shares of the company’s stock valued at $729,000 after acquiring an additional 1,555 shares in the last quarter.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group Inc is a China-based education services provider that offers learning programs through online platforms and physical schools and learning centers. The company serves students, families and adult learners with services covering language training, test preparation, educational consulting and other academic programs.

Its offerings have historically included preparation for overseas admissions and examinations such as TOEFL, IELTS, SAT, GRE and GMAT, as well as overseas study consulting, domestic examination preparation, primary and secondary education services, and educational materials and software.