New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up – Time to Buy?

New Oriental Education & Technology Group Inc. (NYSE:EDU) gapped up before the market opened on Tuesday . The stock had previously closed at $44.09, but opened at $45.10. New Oriental Education & Technology Group shares last traded at $45.65, with a volume of 150,899 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Macquarie cut New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Citigroup lowered New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $83.00 to $50.00 in a report on Friday, January 24th. StockNews.com downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Finally, China Renaissance cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $61.20.

New Oriental Education & Technology Group Price Performance

The company has a 50-day simple moving average of $48.45 and a 200-day simple moving average of $57.05. The stock has a market cap of $7.64 billion, a PE ratio of 19.18 and a beta of 0.37.

Institutional Trading of New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently made changes to their positions in EDU. GeoWealth Management LLC grew its position in New Oriental Education & Technology Group by 258.5% during the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock worth $28,000 after buying an additional 318 shares during the period. Westpac Banking Corp acquired a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth approximately $45,000. SBI Securities Co. Ltd. purchased a new position in New Oriental Education & Technology Group in the 4th quarter valued at approximately $51,000. Natixis raised its holdings in New Oriental Education & Technology Group by 39.2% during the fourth quarter. Natixis now owns 881 shares of the company’s stock worth $57,000 after purchasing an additional 248 shares during the last quarter. Finally, BNP Paribas purchased a new stake in New Oriental Education & Technology Group during the fourth quarter worth $113,000.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.