New Oriental Education & Technology (NYSE:EDU) group now covered by StockNews.com

StockNews.com took over stock coverage of New Oriental Education & Technology Group (NYSE:EDU – Get a Grade) in a research report released Thursday. The company has attached a “sell” rating to the stock.

Other stock analysts have also recently published research reports on the company. Daiwa Capital Markets upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a Wednesday, March 9 report. Zacks Investment Research upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a Monday, March 14 report. Three research analysts gave the stock a sell rating, eight issued a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, New Oriental Education & Technology Group currently has a consensus rating of “Hold” and an average price target of $18.10.

Shares of EDU opened at $1.24 on Thursday. The company has a market capitalization of $2.10 billion, a price-earnings ratio of 6.14 and a beta of 0.98. New Oriental Education & Technology Group has a fifty-two week low of $0.84 and a fifty-two week high of $16.88. The company’s 50-day moving average is $1.36 and its 200-day moving average is $1.82.

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To build a single electric vehicle (EV) motor, it takes 183 pounds of copper. Compare that to just 18 pounds needed in a gas-powered car. That’s 10 TIMES more copper. Electric vehicles are expected to increase by 1,400% by 2030. More sources of copper are desperately needed to meet demand.

The shares of New Oriental Education & Technology Group will be consolidated before the market opens on Friday, April 8. The reverse 1-10 split was announced on Friday, April 8. The number of shares held by shareholders will be adjusted after the closing bell on Friday 8 April.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley increased its position in shares of New Oriental Education & Technology Group by 196.3% in the third quarter. Morgan Stanley now owns 54,714,708 shares of the company valued at $112,165,000 after acquiring an additional 36,248,561 shares during the period. Bank of America Corp DE increased its position in shares of New Oriental Education & Technology Group by 37.9% in the fourth quarter. Bank of America Corp DE now owns 41,241,407 shares of the company valued at $86,606,000 after acquiring an additional 11,340,959 shares during the period. Carmignac Gestion increased its position in New Oriental Education & Technology Group shares by 294.9% in the third quarter. Carmignac Gestion now owns 39,165,819 shares of the company valued at $80,212,000 after acquiring an additional 29,247,393 shares during the period. National Bank of Canada FI purchased a new stake in shares of New Oriental Education & Technology Group in the fourth quarter, valued at approximately $74,058,000. Finally, Two Sigma Investments LP increased its position in shares of New Oriental Education & Technology Group by 626.4% in the third quarter. Two Sigma Investments LP now owns 30,108,015 shares of the company valued at $61,721,000 after acquiring an additional 25,962,977 shares during the period. 74.03% of the shares are held by institutional investors.

About the New Oriental Education and Technology Group (Get a rating)

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. It works through K-12 AST, test prep, and other courses; online education; and other segments. The company offers test preparation courses for students taking the language and entrance exams used by educational institutions in the United States, the People’s Republic of China and Commonwealth countries; and after-school tutoring classes for middle and high school students to improve their exam results, as well as for children to teach English.

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