Short Interest in New Oriental Education & Technology Group Inc. (NYSE:EDU) Decreases By 7.2%

New Oriental Education & Technology Group Inc. (NYSE:EDU) was the target of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 5,690,000 shares, a decrease of 7.2% from the November 15th total of 6,130,000 shares. Based on an average daily volume of 2,010,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 3.6% of the shares of the company are sold short.

New Oriental Education & Technology Group Stock Down 0.9 %

Shares of EDU opened at $59.27 on Wednesday. New Oriental Education & Technology Group has a twelve month low of $54.00 and a twelve month high of $98.20. The stock has a market cap of $10.06 billion, a PE ratio of 25.33 and a beta of 0.46. The business’s 50-day moving average price is $62.91 and its 200-day moving average price is $68.08.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. New Oriental Education & Technology Group’s revenue for the quarter was up 30.5% on a year-over-year basis. Analysts expect that New Oriental Education & Technology Group will post 2.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EDU shares. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Morgan Stanley set a $83.00 target price on New Oriental Education & Technology Group in a research report on Thursday, October 17th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EDU. Blue Trust Inc. increased its stake in New Oriental Education & Technology Group by 782.4% in the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company’s stock worth $62,000 after acquiring an additional 712 shares during the last quarter. Ariose Capital Management Ltd purchased a new position in shares of New Oriental Education & Technology Group during the second quarter worth about $15,046,000. WT Asset Management Ltd increased its position in shares of New Oriental Education & Technology Group by 21.4% in the second quarter. WT Asset Management Ltd now owns 1,730,772 shares of the company’s stock worth $134,533,000 after purchasing an additional 304,712 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in New Oriental Education & Technology Group in the second quarter valued at approximately $43,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in New Oriental Education & Technology Group by 6.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 573,163 shares of the company’s stock valued at $44,552,000 after purchasing an additional 35,049 shares during the last quarter.

New Oriental Education & Technology Group Company Profile

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.