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

New Oriental Education & Technology Group Inc. (NYSE:EDU) gapped down before the market opened on Thursday . The stock had previously closed at $64.18, but opened at $62.69. New Oriental Education & Technology Group shares last traded at $62.38, with a volume of 97,630 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on EDU shares. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Morgan Stanley set a $83.00 target price on New Oriental Education & Technology Group in a report on Thursday, October 17th.

New Oriental Education & Technology Group Stock Performance

The firm has a fifty day moving average of $60.89 and a 200-day moving average of $66.88. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 26.53 and a beta of 0.46.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.27. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 EPS. On average, analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several large investors have recently added to or reduced their stakes in the company. Aspex Management HK Ltd grew its position in shares of New Oriental Education & Technology Group by 46.7% during the third quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock worth $360,493,000 after acquiring an additional 1,513,640 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of New Oriental Education & Technology Group by 20,215.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock valued at $75,418,000 after buying an additional 989,536 shares during the last quarter. Farallon Capital Management LLC grew its holdings in New Oriental Education & Technology Group by 139.0% in the 2nd quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock worth $114,231,000 after buying an additional 854,590 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in New Oriental Education & Technology Group by 192.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock worth $62,703,000 after buying an additional 543,810 shares in the last quarter. Finally, Millennium Management LLC raised its stake in New Oriental Education & Technology Group by 147.5% during the 2nd quarter. Millennium Management LLC now owns 731,758 shares of the company’s stock valued at $56,880,000 after acquiring an additional 436,098 shares in the last quarter.

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.