Sunday, June 26, 2022

Investing in New Oriental Education & Technology Group Inc. [EDU]: What You Must Know

JP Morgan upgraded its New Oriental Education & Technology Group Inc. [EDU] rating to an Overweight from a a Neutral in a research note published on Tuesday, June 13, 2022; the price target was increased to $24 from $14. PT values the company’s stock at a premium of 13.5 to its Tuesday closing price. A number of analysts have revised their coverage, including UBS’s analysts, who increased its forecast for the stock in early June from “a Neutral” to “a Buy”. JP Morgan also remained covering EDU and has increased its forecast on May 02, 2022 with a “Neutral” recommendation from previously “an Underweight” rating. CLSA revised its rating on April 27, 2022. It rated EDU as “an Outperform” which previously was an “an Underperform”.


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Price Performance Review of EDU

On Tuesday, New Oriental Education & Technology Group Inc. [NYSE:EDU] saw its stock fall -3.76% to $20.76. On the same session, the stock had its day’s lowest price of $19.20, but rose to a high of $20.78. Over the last five days, the stock has gained 21.40%. New Oriental Education & Technology Group Inc. shares have fallen nearly -1.14% since the year began. Nevertheless, the stocks have fallen -74.37% over the past one year. While a 52-week high of $88.10 was reached on 06/15/22, a 52-week low of $8.40 was recorded on 03/15/22. SMA at 50 days reached $13.00, while 200 days put it at $16.90. A total of 11.46 million shares were traded, compared to the trading of 12.9 million shares in the previous session.

Levels Of Support And Resistance For EDU Stock

The 24-hour chart illustrates a support level at 19.71, which if violated will result in even more drops to 18.67. On the upside, there is a resistance level at 21.29. A further resistance level may holdings at 21.83. The Relative Strength Index (RSI) on the 14-day chart is 66.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.16, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 25.68%. Stochastics %K at 79.20% indicates the stock is a holding.

New Oriental Education & Technology Group Inc. [EDU] – Who Are The Largest Shareholders?

In filings from Morgan Stanley & Co. LLC, it is revealed that the company now owns 9,813,188 shares, or roughly 5.73% of the outstanding EDU shares. In other words, the investor’s shares have fallen by -138,438 from its previous 13-F filing of 9951626.0. Additionally, Goldman Sachs & Co. LLC increased 52.69% of its stake after which the total value it holdings stand at $95,943,997, while Carmignac Gestion SA added 187.63% of its stake to hold $56.3 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 130,149 shares of New Oriental Education & Technology Group Inc., while The Vanguard Group, Inc. bought -64,872 shares. At present, Yiheng Capital Management LP is holding 3,942,373 shares valued at $51.49 million. Healthcare of Ontario Pension Pla owned 3,900,840 shares of the company at the time of its most recent 13F filing, worth $50.94 million.

According to FactSet, New Oriental Education & Technology Group Inc.’s share price will average $23.65 in the next year, based on opinions of analysts polled by the firm. This is up nearly 4.31 percent from its previous closing price of $21.57. Analysts expect New Oriental Education & Technology Group Inc. stock to reach the higher price of $41.20, while the lowest price estimate is $11.70. However, 12 analysts have rated EDU stock as an Overweight in their predictions for 2022.

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