August 16, 2023 – New Oriental Education & Technology Group Inc. (NYSE:EDU) experienced a significant decrease in short interest during the month of July, according to recent reports. This news comes amidst several research firms weighing in on EDU’s performance and rating outlook.
As of July 31st, there were 4,800,000 shares with short interest, representing a decrease of 9.8% from the total of 5,320,000 shares reported on July 15th. Based on an average daily trading volume of 1,720,000 shares, the days-to-cover ratio stands at approximately 2.8 days. Currently, approximately 2.8% of EDU stock shares are sold short.
Several research firms have recently shared their opinions on New Oriental Education & Technology Group Inc. TheStreet upgraded the company from a “d+” rating to a “c-” rating in its research note dated July 26th. In addition, UBS Group raised their price objective on EDU from $65.00 to $71.00 in a research note published on July 27th. Lastly, StockNews.com raised New Oriental Education & Technology Group Inc from a “hold” rating to a “buy” rating in its research note dated July 31st.
New Oriental Education & Technology Group Inc provides private educational services under the renowned New Oriental brand throughout the People’s Republic of China. The company operates through four segments which include Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Others.
Shares of EDU stock opened at $50.90 on Wednesday with a reported business’s 50-day moving average price of $45.80 and its 200-day moving average set at $42.09. Over the past twelve months, New Oriental Education & Technology Group has reached a low of $17.01 and a high of $57.94. Presently, the firm holds a market capitalization of $8.64 billion, with a price-to-earnings ratio standing at 49.42 and a beta of 0.67.
In conclusion, New Oriental Education & Technology Group Inc has seen a significant drop in short interest during July, reflecting potential positive sentiment surrounding the company’s performance and future outlook. With research firms upgrading their ratings and revising price objectives upward, the company may be set for continued growth in the Chinese private educational services sector.
New Oriental Education & Technology Group Inc.
Updated on: 17/08/2023
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Major Hedge Funds Show Confidence in New Oriental Education & Technology Group with Strategic Position Adjustments
In recent months, various hedge funds have been making strategic moves in the stock market, including adjustments to their positions in the company known as New Oriental Education & Technology Group (EDU). One notable change came from Barclays PLC, which dramatically increased its stake in the company by 40.1% during the fourth quarter. Their investment now sits at a value of $19,530,000 with the acquisition of an additional 160,570 shares.
Another significant player, Handelsbanken Fonder AB, has also joined the fray by purchasing a new position in EDU. Their investment during the same period amounted to approximately $2,068,000. These actions demonstrate the confidence that these hedge funds have in the future performance and potential of New Oriental Education & Technology Group.
Point72 Hong Kong Ltd has also shown their support for EDU by raising their position by an impressive 99.9% during the fourth quarter. They now hold 166,400 shares worth around $5,794,000. Two Sigma Investments LP followed suit and increased their position by 124.4% during the same period. With an additional 626,681 shares added to their portfolio, they now own approximately 1,130,502 shares valued at $39,364,000.
Snow Lake Capital HK Ltd completed this lineup of major investors by raising its position by 50% during the fourth quarter as well. They currently hold 300,000 shares worth around $10,446 million. Collectively, these hedge funds represent a considerable share of New Oriental Education & Technology Group ownership with a total stake of around 90.13%.
What does this mean for everyday investors? The increased interest from hedge funds indicates a belief in EDU’s potential growth and profitability as an investment opportunity. Institutional investors bring significant resources and expertise to bear on identifying promising companies like New Oriental Education & Technology Group.
New Oriental Education & Technology Group specializes in providing educational services and technology solutions. Their operations span a wide range of educational programs, including language training, test preparation, and overseas study consulting. With their prominent presence in the market, it’s no surprise that they have garnered the attention of hedge funds looking for lucrative investment opportunities.
As always, potential investors should perform their research and due diligence before making any investment decision. However, the confidence shown by these major hedge funds signals a positive outlook for New Oriental Education & Technology Group. It may be worth keeping an eye on EDU as it continues to attract attention from institutional investors.
In conclusion, hedge funds have made notable adjustments to their positions in New Oriental Education & Technology Group recently. Barclays PLC increased its stake significantly, while Handelsbanken Fonder AB joined as a new investor. Point72 Hong Kong Ltd, Two Sigma Investments LP, and Snow Lake Capital HK Ltd also followed suit with significant increases in their holdings. These actions not only highlight institutional confidence but also indicate potential growth for everyday investors interested in this particular stock.