New Oriental Education & Technology Group (NYSE:EDU) Sees Large Volume Increase – What’s Next?

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) saw an uptick in trading volume on Thursday . Approximately 718,993 shares were traded during mid-day trading, a decline of 10% from the previous session’s volume of 799,460 shares.The stock last traded at $56.8640 and had previously closed at $58.58.

Wall Street Analysts Forecast Growth

EDU has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, July 21st. The Goldman Sachs Group raised New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $67.00 to $65.00 in a research report on Thursday, June 11th. New Street Research set a $56.50 target price on shares of New Oriental Education & Technology Group in a report on Thursday. Finally, Wall Street Zen downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.54.

New Oriental Education & Technology Group Trading Up 4.1%

The firm has a 50 day simple moving average of $47.87 and a 200 day simple moving average of $53.14. The firm has a market capitalization of $9.31 billion, a PE ratio of 19.89, a P/E/G ratio of 0.60 and a beta of 0.19.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Institutional investors have recently modified their holdings of the business. Amundi increased its holdings in New Oriental Education & Technology Group by 14.4% in 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 in the last quarter. EverSource Wealth Advisors LLC lifted 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 valued at $31,000 after acquiring an additional 279 shares during the period. Quantinno Capital Management LP lifted its stake in New Oriental Education & Technology Group by 27.9% during the 1st quarter. Quantinno Capital Management LP now owns 48,862 shares of the company’s stock valued at $2,767,000 after acquiring an additional 10,669 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of New Oriental Education & Technology Group during the 1st quarter valued at about $18,528,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of New Oriental Education & Technology Group during the 1st quarter valued at about $209,000.

New Oriental Education & Technology Group Company Profile

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.