New Oriental Education & Technology Group (NYSE:EDU) Stock Price Down 3.4% – Should You Sell?

New Oriental Education & Technology Group Inc. (NYSE:EDU) was down 3.4% on Friday . The stock traded as low as $60.10 and last traded at $60.42. Approximately 128,145 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 1,852,048 shares. The stock had previously closed at $62.53.

Analyst Ratings Changes

A number of analysts recently issued reports on EDU shares. Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research note on Thursday, October 17th. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th.

New Oriental Education & Technology Group Stock Performance

The business has a 50 day moving average of $63.30 and a 200-day moving average of $68.36. The company has a market capitalization of $10.36 billion, a P/E ratio of 26.08 and a beta of 0.46.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The firm’s revenue was up 30.5% on a year-over-year basis. As a group, equities analysts forecast that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EDU. Blue Trust Inc. grew its position in New Oriental Education & Technology Group by 782.4% during the second quarter. Blue Trust Inc. now owns 803 shares of the company’s stock worth $62,000 after buying an additional 712 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of New Oriental Education & Technology Group by 23.0% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 33,508 shares of the company’s stock worth $2,605,000 after purchasing an additional 6,273 shares in the last quarter. Ariose Capital Management Ltd purchased a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth about $15,046,000. WT Asset Management Ltd boosted its holdings in shares of New Oriental Education & Technology Group by 21.4% in the 2nd quarter. WT Asset Management Ltd now owns 1,730,772 shares of the company’s stock worth $134,533,000 after purchasing an additional 304,712 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth about $43,000.

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.