New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down to $2.10

New Oriental Education & Technology Group Inc. (NYSE:EDU) shares gapped down before the market opened on Monday . The stock had previously closed at $2.10, but opened at $2.05. New Oriental Education & Technology Group shares last traded at $2.07, with a volume of 318,760 shares trading hands.

Several research analysts recently issued reports on EDU shares. Daiwa Capital Markets lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 27th. JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an “overweight” rating to an “underweight” rating in a research report on Friday, July 23rd. Bank of America cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating in a research note on Monday, July 26th. Credit Suisse Group cut shares of New Oriental Education & Technology Group from an “outperform” rating to a “neutral” rating in a research note on Monday, June 7th. Finally, HSBC cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Friday, June 18th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.45.

The company’s 50 day moving average price is $3.19 and its 200 day moving average price is $19.79. The firm has a market capitalization of $3.43 billion, a P/E ratio of 8.33 and a beta of 0.84.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG grew its stake in shares of New Oriental Education & Technology Group by 21.4% during the second quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 392,559 shares of the company’s stock valued at $3,215,000 after purchasing an additional 69,199 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of New Oriental Education & Technology Group by 257.1% during the second quarter. Y Intercept Hong Kong Ltd now owns 289,636 shares of the company’s stock worth $2,372,000 after acquiring an additional 208,530 shares during the period. Morgan Stanley raised its holdings in shares of New Oriental Education & Technology Group by 46.5% during the second quarter. Morgan Stanley now owns 18,466,147 shares of the company’s stock worth $151,237,000 after acquiring an additional 5,863,226 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of New Oriental Education & Technology Group by 728.4% during the second quarter. 1832 Asset Management L.P. now owns 1,990,000 shares of the company’s stock worth $16,630,000 after acquiring an additional 1,749,780 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in shares of New Oriental Education & Technology Group by 3.7% during the second quarter. Thrivent Financial for Lutherans now owns 278,858 shares of the company’s stock worth $2,284,000 after acquiring an additional 9,987 shares during the period. 68.90% of the stock is currently owned by institutional investors and hedge funds.

New Oriental Education & Technology Group Company Profile (NYSE:EDU)

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: K-12 AST, Test preparation, and Other Courses, Primary and Secondary School Education, Online Education, Content Development and Distribution, Pre-School Education, Overseas Study Consulting Services, and Study Tours.

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