New Oriental Education & Technology Group Inc. (NYSE:EDU) marked $40.77 per share on Wednesday, up from a previous closing price of $37.53. While New Oriental Education & Technology Group Inc. has overperformed by 8.63%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, EDU rose by 125.25%, with highs and lows ranging from $43.38 to $8.40, whereas the simple moving average jumped by 76.59% in the last 200 days.
On December 30, 2022, Citigroup started tracking New Oriental Education & Technology Group Inc. (NYSE: EDU) recommending Buy. A report published by CLSA on October 27, 2022, Upgraded its rating to ‘Buy’ for EDU. BofA Securities also Upgraded EDU shares as ‘Buy’, setting a target price of $36.60 on the company’s shares in a report dated July 29, 2022. Macquarie June 23, 2022d its ‘Outperform’ rating to ‘Neutral’ for EDU, as published in its report on June 23, 2022. JP Morgan’s report from June 13, 2022 suggests a price prediction of $24 for EDU shares, giving the stock a ‘Overweight’ rating. UBS also rated the stock as ‘Buy’.
Analysis of New Oriental Education & Technology Group Inc. (EDU)
Further, the quarter-over-quarter decrease in sales is -38.50%, showing a negative trend in the upcoming months.
In order to gain a clear picture of New Oriental Education & Technology Group Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. Taking into account the quick ratio of the company, currently set at 2.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 2.74M can be a very valuable indicator of volatility for EDU stock. On a monthly basis, the volatility of the stock is set at 6.97%, whereas on a weekly basis, it is put at 5.92%, with a loss of -0.02% over the past seven days. Furthermore, long-term investors anticipate a median target price of $40.59, showing decline from the present price of $40.77, which can serve as yet another indication of whether EDU is worth investing in or should be passed over.
How Do You Analyze New Oriental Education & Technology Group Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 55.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in EDU shares?
The recent increase in stakes in EDU appears to be a result of several institutional investors and hedge funds increasing their positions. The Baupost Group LLC’s position in EDU has decreased by -3.93% in the first quarter. The company now owns 7,685,706 shares of the stock, with a value of $267.62 million, following the sale of -314,294 additional shares during the last quarter. Goldman Sachs & Co. LLC made another increased to its shares in EDU during the first quarter, upping its stake by 63.62%. During the last quarter, the company dropped down 2,104,199 additional shares for a total stake of worth $188.44 million, bringing number of shares owned by the company to 5,411,717.
At the end of the first quarter, The Vanguard Group, Inc. decreased its EDU holdings by -0.78% and now holds 3.95 million EDU shares valued at $137.66 million with the lessened 31111.0 shares during the period. EDU shares are owned by institutional investors to the tune of 55.60% at present.