Short Interest in New Oriental Education & Technology Group Inc. (NYSE: EDU) Grows By 47.1%


New Oriental Education & Technology Group Inc. (NYSE: EDU – Get Rating) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 15,030,000 shares, a growth of 47.1% from the March 31st total of 10,220,000 shares. Approximately 8.8% of the company’s stock are short sold. Based on an average daily volume of 4,370,000 shares, the short-interest ratio is currently 3.4 days.

NYSE EDU traded up $ 1.30 on Friday, hitting $ 12.55. 5,220,840 shares of the company’s stock traded hands, compared to its average volume of 7,345,671. New Oriental Education & Technology Group has a 1-year low of $ 8.40 and a 1-year high of $ 156.00. The firm’s 50-day moving average price is $ 12.04 and its two-hundred day moving average price is $ 16.89. The firm has a market capitalization of $ 2.13 billion, a PE ratio of 5.57 and a beta of 0.95.

A number of hedge funds and other institutional investors have recently made changes to their positions in EDU. Atom Investors LP acquired a new stake in New Oriental Education & Technology Group during the 3rd quarter valued at approximately $ 26,000. ProVise Management Group LLC purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter valued at approximately $ 26,000. Ground Swell Capital LLC purchased a new position in shares of New Oriental Education & Technology Group during the 3rd quarter valued at approximately $ 27,000. PDS Planning Inc purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter valued at approximately $ 29,000. Finally, HighTower Advisors LLC purchased a new position in shares of New Oriental Education & Technology Group during the 3rd quarter valued at approximately $ 31,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

A number of research analysts have commented on EDU shares. Daiwa Capital Markets raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 9th. Zacks Investment Research raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Monday, March 14th. CLSA raised shares of New Oriental Education & Technology Group from an “underperform” rating to an “outperform” rating in a research report on Wednesday. Finally, StockNews.com initiated coverage on shares of New Oriental Education & Technology Group in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $ 134.00.

About New Oriental Education & Technology Group (Get Rating)

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. It operates through K-12 AST, Test Preparation and Other Courses; Online Education; and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People’s Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to enhance their exam scores, as well as for children to teach English.

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