New Oriental Education & Technology Group, Inc. (NYSE:EDU) Sees Large Increase in Short Interest

New Oriental Education & Technology Group, Inc. (NYSE:EDU) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 5,456,992 shares, a growth of 20.9% from the December 15th total of 4,512,650 shares. Approximately 4.1% of the shares of the stock are sold short. Based on an average daily volume of 548,722 shares, the days-to-cover ratio is currently 9.9 days. Based on an average daily volume of 548,722 shares, the days-to-cover ratio is currently 9.9 days. Approximately 4.1% of the shares of the stock are sold short.

New Oriental Education & Technology Group Trading Down 1.0%

Shares of NYSE:EDU traded down $0.54 during trading on Monday, reaching $55.20. 589,781 shares of the company traded hands, compared to its average volume of 548,824. New Oriental Education & Technology Group has a 52-week low of $40.66 and a 52-week high of $61.56. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 24.32, a P/E/G ratio of 1.30 and a beta of 0.29. The business’s fifty day moving average is $54.50 and its 200-day moving average is $52.52.

New Oriental Education & Technology Group Announces Dividend

The company also recently disclosed a special dividend, which was paid on Friday, December 5th. Shareholders of record on Tuesday, November 18th were given a $0.60 dividend. The ex-dividend date was Tuesday, November 18th. New Oriental Education & Technology Group’s payout ratio is presently 25.55%.

Institutional Trading of New Oriental Education & Technology Group

Institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its stake in shares of New Oriental Education & Technology Group by 7,314.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock worth $28,000 after purchasing an additional 512 shares during the last quarter. Bessemer Group Inc. purchased a new stake in New Oriental Education & Technology Group in the 2nd quarter worth approximately $37,000. Hantz Financial Services Inc. lifted its holdings in New Oriental Education & Technology Group by 738.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock worth $49,000 after buying an additional 797 shares during the period. Raymond James Financial Inc. bought a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter worth approximately $111,000. Finally, Quantbot Technologies LP increased its stake in shares of New Oriental Education & Technology Group by 309.7% during the third quarter. Quantbot Technologies LP now owns 3,532 shares of the company’s stock valued at $187,000 after buying an additional 2,670 shares during the period.

Analyst Ratings Changes

Several analysts have issued reports on EDU shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $60.00 target price on shares of New Oriental Education & Technology Group in a research note on Wednesday, October 29th. Bank of America boosted their price objective on shares of New Oriental Education & Technology Group from $56.20 to $58.20 and gave the stock a “buy” rating in a report on Monday, September 29th. JPMorgan Chase & Co. upped their price objective on shares of New Oriental Education & Technology Group from $60.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research report on Monday, December 29th. Finally, Zacks Research raised shares of New Oriental Education & Technology Group from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, New Oriental Education & Technology Group currently has a consensus rating of “Hold” and an average target price of $59.53.

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.