New Oriental Education & Technology Group (NYSE:EDU) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

by · The Markets Daily

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDUGet Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $52.77 and traded as high as $59.14. New Oriental Education & Technology Group shares last traded at $57.9170, with a volume of 579,937 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, July 21st. The Goldman Sachs Group upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and dropped their target price for the company from $67.00 to $65.00 in a research report on Thursday, June 11th. New Street Research set a $56.50 price target on shares of New Oriental Education & Technology Group in a report on Thursday, July 30th. Finally, Wall Street Zen lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.54.

View Our Latest Research Report on New Oriental Education & Technology Group

New Oriental Education & Technology Group Stock Up 1.3%

The business has a 50 day simple moving average of $51.81 and a 200 day simple moving average of $52.81. The company has a market capitalization of $9.27 billion, a PE ratio of 19.82, a PEG ratio of 0.62 and a beta of 0.24.

Insiders Place Their Bets

In related news, Director Yue Zhuge sold 1,600 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $59.55, for a total value of $95,280.00. Following the transaction, the director directly owned 2,000 shares of the company’s stock, valued at $119,100. This represents a 44.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Chenggang Zhou sold 56,948 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $56.83, for a total value of $3,236,354.84. Following the completion of the transaction, the director directly 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 have sold 72,170 shares of company stock worth $4,100,348 over the last three months. Corporate insiders own 15.50% of the company’s stock.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Hedge funds have recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. AG increased its stake 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 worth $729,000 after purchasing an additional 1,555 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in New Oriental Education & Technology Group during the second quarter worth about $585,000. Amundi increased its holdings in shares of New Oriental Education & Technology Group by 14.4% during the 1st quarter. Amundi now owns 507,774 shares of the company’s stock worth $28,755,000 after buying an additional 63,845 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of 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 purchasing an additional 279 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in shares of New Oriental Education & Technology Group by 27.9% in the 1st quarter. Quantinno Capital Management LP now owns 48,862 shares of the company’s stock valued at $2,767,000 after buying an additional 10,669 shares during the period.

New Oriental Education & Technology Group Company Profile

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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.

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