New Oriental Education & Technology Group Inc. (NYSE:EDU) Sees Significant Growth in Short Interest

New Oriental Education & Technology Group Inc. (NYSE:EDUGet Rating) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 15,030,000 shares, a growth of 47.1% from the March 31st total of 10,220,000 shares. Based on an average trading volume of 4,370,000 shares, the short-interest ratio is currently 3.4 days. Currently, 8.8% of the shares of the stock are sold short.

Hedge funds have recently added to or reduced their stakes in the stock. ProVise Management Group LLC bought a new position in shares of New Oriental Education & Technology Group during the 4th quarter valued at $26,000. Atom Investors LP purchased a new stake in New Oriental Education & Technology Group during the 3rd quarter valued at $26,000. Ground Swell Capital LLC purchased a new stake in New Oriental Education & Technology Group during the 3rd quarter valued at $27,000. PDS Planning Inc purchased a new stake in New Oriental Education & Technology Group during the 4th quarter valued at $29,000. Finally, HighTower Advisors LLC purchased a new stake in New Oriental Education & Technology Group during the 3rd quarter valued at $31,000. 74.03% of the stock is currently owned by institutional investors.

Shares of EDU stock traded up $1.30 on Friday, hitting $12.55. 5,220,840 shares of the company’s stock traded hands, compared to its average volume of 7,345,671. New Oriental Education & Technology Group has a one year low of $8.40 and a one year high of $156.00. The company’s fifty day simple moving average is $12.04 and its 200 day simple moving average is $16.89. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 5.57 and a beta of 0.95.

A number of research firms recently weighed in on EDU. StockNews.com began coverage on shares of New Oriental Education & Technology Group in a report on Thursday, March 31st. They set a “sell” rating on the stock. Zacks Investment Research raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Monday, March 14th. CLSA raised shares of New Oriental Education & Technology Group from an “underperform” rating to an “outperform” rating in a report on Wednesday. Finally, Daiwa Capital Markets raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a report on Wednesday, March 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, New Oriental Education & Technology Group presently has an average rating of “Hold” and an average target price of $134.00.

New Oriental Education & Technology Group Company Profile (Get Rating)

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through K-12 AST, Test Preparation and Other Courses; Online Education; and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to enhance their exam scores, as well as for children to teach English.

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