New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down – Should You Sell?

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) gapped down before the market opened on Tuesday . The stock had previously closed at $68.23, but opened at $63.85. New Oriental Education & Technology Group shares last traded at $62.62, with a volume of 315,305 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Morgan Stanley set a $83.00 price target on shares of New Oriental Education & Technology Group in a report on Thursday, October 17th.

New Oriental Education & Technology Group Price Performance

The company has a market capitalization of $10.75 billion, a P/E ratio of 26.76 and a beta of 0.46. The stock’s 50 day simple moving average is $64.62 and its two-hundred day simple moving average is $68.76.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. ABS Direct Equity Fund LLC boosted its holdings in New Oriental Education & Technology Group by 17.5% during the third quarter. ABS Direct Equity Fund LLC now owns 7,400 shares of the company’s stock worth $561,000 after purchasing an additional 1,100 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in New Oriental Education & Technology Group during the third quarter worth $27,425,000. XTX Topco Ltd acquired a new position in New Oriental Education & Technology Group during the third quarter worth $1,860,000. Janus Henderson Group PLC boosted its holdings in New Oriental Education & Technology Group by 11.9% during the third quarter. Janus Henderson Group PLC now owns 30,895 shares of the company’s stock worth $2,342,000 after purchasing an additional 3,287 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in New Oriental Education & Technology Group during the third quarter worth $1,261,000.

About New Oriental Education & Technology Group

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.