New Oriental Education & Technology Group Inc. (NYSE:EDU) Short Interest Down 13.4% in February

New Oriental Education & Technology Group Inc. (NYSE:EDU) saw a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 8,640,000 shares, a decline of 13.4% from the February 13th total of 9,980,000 shares. Approximately 5.5% of the company’s stock are sold short. Based on an average trading volume of 1,980,000 shares, the days-to-cover ratio is currently 4.4 days.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in 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 during the period. Monolith Management Ltd purchased 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 stake in shares of 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 during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in New Oriental Education & Technology Group in the 3rd quarter valued at about $27,425,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $83.00 to $50.00 in a report on Friday, January 24th. JPMorgan Chase & Co. cut New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their price target for the company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. StockNews.com cut New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th. Morgan Stanley lowered New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $83.00 to $52.00 in a research report on Wednesday, January 22nd. Finally, Macquarie downgraded New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and lowered their price target for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. One investment 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.com, the company currently has an average rating of “Hold” and an average price target of $61.20.

New Oriental Education & Technology Group Stock Down 1.3 %

NYSE:EDU opened at $51.97 on Friday. The company has a market capitalization of $8.82 billion, a PE ratio of 22.11 and a beta of 0.47. New Oriental Education & Technology Group has a 52-week low of $44.46 and a 52-week high of $95.88. The stock’s 50 day moving average price is $51.03 and its 200 day moving average price is $59.29.

About New Oriental Education & Technology Group

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.