New Oriental Education & Technology Group Inc. (NYSE:EDU) Short Interest Up 7.0% in April

New Oriental Education & Technology Group Inc. (NYSE:EDU) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 4,580,000 shares, an increase of 7.0% from the March 31st total of 4,280,000 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average trading volume of 1,760,000 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EDU. FMR LLC lifted its holdings in New Oriental Education & Technology Group by 92.7% in the 3rd quarter. FMR LLC now owns 6,631,500 shares of the company’s stock worth $388,274,000 after purchasing an additional 3,189,254 shares in the last quarter. Sylebra Capital LLC purchased a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter worth approximately $63,935,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of New Oriental Education & Technology Group by 141.4% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,608,792 shares of the company’s stock worth $117,892,000 after acquiring an additional 942,392 shares in the last quarter. Shah Capital Management purchased a new stake in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $60,659,000. Finally, Schroder Investment Management Group raised its holdings in shares of New Oriental Education & Technology Group by 22.8% during the 3rd quarter. Schroder Investment Management Group now owns 4,094,455 shares of the company’s stock worth $239,730,000 after acquiring an additional 760,062 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EDU shares. Morgan Stanley boosted their price objective on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. StockNews.com downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Citigroup boosted their price objective on New Oriental Education & Technology Group from $66.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, New Oriental Education & Technology Group currently has an average rating of “Moderate Buy” and a consensus price target of $97.67.

New Oriental Education & Technology Group Trading Up 1.7 %

NYSE EDU opened at $78.39 on Thursday. The stock’s 50 day moving average is $88.50 and its 200 day moving average is $79.43. New Oriental Education & Technology Group has a 12 month low of $35.70 and a 12 month high of $98.20. The stock has a market cap of $13.30 billion, a PE ratio of 42.15 and a beta of 0.52.

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.