New Oriental Education & Technology Group (NYSE:EDU) Stock Price Passes Above 200 Day Moving Average – Here’s Why

New Oriental Education & Technology Group, Inc. (NYSE:EDU)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $52.76 and traded as high as $59.53. New Oriental Education & Technology Group shares last traded at $59.30, with a volume of 376,848 shares.

Analyst Ratings Changes

EDU has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of New Oriental Education & Technology Group in a report on Tuesday, July 21st. New Street Research set a $56.50 price target on New Oriental Education & Technology Group in a research note on Thursday, July 30th. Wall Street Zen downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, The Goldman Sachs Group upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $67.00 to $65.00 in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, New Oriental Education & Technology Group has an average rating of “Moderate Buy” and an average target price of $64.54.

New Oriental Education & Technology Group Stock Up 1.9%

The stock has a 50 day moving average price of $53.16 and a 200 day moving average price of $52.76. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 0.63 and a beta of 0.23.

Insider Activity at New Oriental Education & Technology Group

In other New Oriental Education & Technology Group news, Director Chenggang Zhou sold 56,948 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $56.83, for a total value of $3,236,354.84. Following the completion of the transaction, the director directly owned 429,998 shares in the company, valued at approximately $24,436,786.34. This represents a 11.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Yue Zhuge sold 1,600 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $59.55, for a total transaction of $95,280.00. Following the transaction, the director directly owned 2,000 shares of the company’s stock, valued at $119,100. The trade was a 44.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 72,170 shares of company stock worth $4,100,348. 15.50% of the stock is owned by corporate insiders.

Institutional Trading of New Oriental Education & Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of EDU. Invesco Ltd. lifted its holdings in New Oriental Education & Technology Group by 5,697.3% during the 4th quarter. Invesco Ltd. now owns 4,610,905 shares of the company’s stock worth $253,738,000 after buying an additional 4,531,370 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at about $86,526,000. Federated Hermes Inc. raised its position in shares of New Oriental Education & Technology Group by 13,865.2% during the fourth quarter. Federated Hermes Inc. now owns 742,249 shares of the company’s stock worth $40,846,000 after acquiring an additional 736,934 shares during the last quarter. Tiger Pacific Capital LP bought a new position in shares of New Oriental Education & Technology Group during the second quarter worth about $38,056,000. Finally, BRIGHT VALLEY CAPITAL Ltd acquired a new position in shares of New Oriental Education & Technology Group in the fourth quarter worth approximately $28,944,000.

About New Oriental Education & Technology Group

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.