New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up – What’s Next?

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) gapped up prior to trading on Friday . The stock had previously closed at $48.04, but opened at $51.14. New Oriental Education & Technology Group shares last traded at $50.50, with a volume of 355,338 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citigroup cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $83.00 to $50.00 in a report on Friday, January 24th. JPMorgan Chase & Co. lowered 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. Morgan Stanley lowered New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. Macquarie cut New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Finally, StockNews.com lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, New Oriental Education & Technology Group currently has an average rating of “Hold” and an average target price of $61.20.

New Oriental Education & Technology Group Trading Up 5.6 %

The stock has a fifty day simple moving average of $52.18 and a two-hundred day simple moving average of $59.69. The company has a market cap of $8.61 billion, a PE ratio of 21.60 and a beta of 0.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in shares of New Oriental Education & Technology Group by 192.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock worth $62,703,000 after purchasing an additional 543,810 shares in the last quarter. Monolith Management Ltd acquired a new stake in shares of New Oriental Education & Technology Group in the third quarter valued at about $15,168,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in New Oriental Education & Technology Group by 3.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company’s stock worth $44,940,000 after buying an additional 19,401 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in New Oriental Education & Technology Group by 12.9% during 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 during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter valued at approximately $27,425,000.

New Oriental Education & Technology Group Company Profile

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.