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

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

Wall Street Analyst Weigh In

EDU has been the subject of a number of research reports. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Morgan Stanley set a $83.00 target price on New Oriental Education & Technology Group in a research report on Thursday, October 17th.

New Oriental Education & Technology Group Stock Performance

The stock’s 50 day simple moving average is $63.70 and its 200 day simple moving average is $68.57. The firm has a market cap of $10.31 billion, a P/E ratio of 26.72 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 net margin of 8.38% and a return on equity of 9.43%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis. As a group, analysts forecast that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of EDU. Ridgewood Investments LLC bought a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter worth $43,000. Ashton Thomas Private Wealth LLC bought a new stake in New Oriental Education & Technology Group in the 2nd quarter worth about $50,000. Blue Trust Inc. increased its stake in New Oriental Education & Technology Group by 782.4% in the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company’s stock valued at $62,000 after buying an additional 712 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock worth $126,000 after buying an additional 206 shares in the last quarter. Finally, Hancock Whitney Corp purchased a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth approximately $212,000.

New Oriental Education & Technology Group Company Profile

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.