New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down – What’s Next?

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) gapped down prior to trading on Monday . The stock had previously closed at $50.20, but opened at $47.18. New Oriental Education & Technology Group shares last traded at $47.08, with a volume of 394,991 shares changing hands.

Analyst Ratings Changes

Several research analysts have issued reports on EDU shares. Macquarie lowered shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and lowered their price target for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $50.00 in a report on Wednesday, January 22nd. Citigroup downgraded New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $83.00 to $50.00 in a report on Friday, January 24th. StockNews.com downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th. Finally, Morgan Stanley cut New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, New Oriental Education & Technology Group presently has an average rating of “Hold” and an average price target of $61.20.

New Oriental Education & Technology Group Stock Performance

The business has a 50 day moving average of $50.31 and a two-hundred day moving average of $59.00. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 19.73 and a beta of 0.47.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Institutional investors have recently bought and sold shares of the stock. GeoWealth Management LLC grew its holdings in shares of New Oriental Education & Technology Group by 258.5% in the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Westpac Banking Corp purchased a new stake in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $45,000. SBI Securities Co. Ltd. bought a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth approximately $51,000. Natixis lifted its stake in New Oriental Education & Technology Group by 39.2% in the fourth quarter. Natixis now owns 881 shares of the company’s stock valued at $57,000 after purchasing an additional 248 shares during the last quarter. Finally, BNP Paribas purchased a new stake in New Oriental Education & Technology Group in the fourth quarter worth $113,000.

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.