New Oriental Education & Technology Group Inc. (NYSE:EDU) Short Interest Down 7.2% in November

New Oriental Education & Technology Group Inc. (NYSE:EDU) was the recipient of a large drop in short interest in November. As of November 30th, there was short interest totalling 5,690,000 shares, a drop of 7.2% from the November 15th total of 6,130,000 shares. Based on an average daily trading volume, of 2,010,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 3.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research 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.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several large investors have recently modified their holdings of the business. Farallon Capital Management LLC grew its position in shares of New Oriental Education & Technology Group by 139.0% in the second quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock valued at $114,231,000 after purchasing an additional 854,590 shares in the last quarter. Fiera Capital Corp boosted its stake in New Oriental Education & Technology Group by 19.8% in the 3rd quarter. Fiera Capital Corp now owns 51,371 shares of the company’s stock worth $3,896,000 after purchasing an additional 8,499 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in New Oriental Education & Technology Group by 3.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company’s stock valued at $44,940,000 after buying an additional 19,401 shares in the last quarter. Monolith Management Ltd bought a new stake in shares of New Oriental Education & Technology Group during the third quarter valued at about $15,168,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of New Oriental Education & Technology Group by 12.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock worth $7,573,000 after buying an additional 11,423 shares in the last quarter.

New Oriental Education & Technology Group Stock Down 0.9 %

New Oriental Education & Technology Group stock traded down $0.54 during trading on Tuesday, hitting $59.27. The stock had a trading volume of 1,122,518 shares, compared to its average volume of 1,854,268. The stock’s 50 day moving average is $62.91 and its two-hundred day moving average is $68.08. New Oriental Education & Technology Group has a 1 year low of $54.00 and a 1 year high of $98.20. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 25.33 and a beta of 0.46.

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

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.