New Oriental Education & Technology Group Inc. (NYSE:EDU) Short Interest Update

New Oriental Education & Technology Group Inc. (NYSE:EDU) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 6,780,000 shares, an increase of 19.2% from the November 30th total of 5,690,000 shares. Based on an average daily volume of 1,910,000 shares, the days-to-cover ratio is currently 3.5 days. Currently, 4.3% of the company’s stock are short sold.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE:EDU traded down $0.75 during midday trading on Friday, hitting $63.20. 950,516 shares of the stock were exchanged, compared to its average volume of 1,830,517. The business’s fifty day simple moving average is $61.00 and its two-hundred day simple moving average is $67.14. New Oriental Education & Technology Group has a 52-week low of $54.00 and a 52-week high of $98.20. The company has a market capitalization of $10.72 billion, a PE ratio of 27.01 and a beta of 0.46.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the business earned $0.99 EPS. The business’s quarterly revenue was up 30.5% on a year-over-year basis. As a group, equities analysts anticipate that New Oriental Education & Technology Group will post 2.94 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Aspex Management HK Ltd boosted its holdings in New Oriental Education & Technology Group by 46.7% in the third quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock worth $360,493,000 after purchasing an additional 1,513,640 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of New Oriental Education & Technology Group by 20,215.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock worth $75,418,000 after buying an additional 989,536 shares during the last quarter. Farallon Capital Management LLC boosted its stake in shares of New Oriental Education & Technology Group by 139.0% during the 2nd quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock worth $114,231,000 after acquiring an additional 854,590 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of New Oriental Education & Technology Group by 192.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock worth $62,703,000 after acquiring an additional 543,810 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of New Oriental Education & Technology Group by 147.5% during the 2nd quarter. Millennium Management LLC now owns 731,758 shares of the company’s stock valued at $56,880,000 after acquiring an additional 436,098 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.