New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up – Here’s Why

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDUGet Free Report) gapped up before the market opened 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 traded.

Analyst Ratings Changes

A number of research analysts have recently commented on EDU shares. StockNews.com lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $50.00 in a report on Wednesday, January 22nd. Macquarie lowered New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and cut their price target for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. Morgan Stanley lowered New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. Finally, Citigroup lowered New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $83.00 to $50.00 in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.20.

Read Our Latest Report on EDU

New Oriental Education & Technology Group Stock Up 5.6 %

The firm has a market capitalization of $8.61 billion, a P/E ratio of 21.59 and a beta of 0.47. The business has a 50-day moving average price of $51.94 and a 200-day moving average price of $59.55.

Institutional Trading of New Oriental Education & Technology Group

A number of institutional investors and hedge funds have recently modified their holdings of EDU. Oppenheimer Asset Management Inc. bought a new stake in New Oriental Education & Technology Group in the third quarter valued at $297,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in New Oriental Education & Technology Group in the third quarter valued at $316,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in New Oriental Education & Technology Group in the third quarter valued at $1,609,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in New Oriental Education & Technology Group by 3.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company’s stock valued at $44,940,000 after acquiring an additional 19,401 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in 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 valued at $7,573,000 after acquiring an additional 11,423 shares during the period.

About New Oriental Education & Technology Group

(Get Free Report)

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.

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