NYSE:EDU Stock Is Stable After A Massive Drop

The EDU stock price fluctuated between $2.21 and $2.53 throughout the trading session with the volume trading being 291M shares, which represented a positive variation when compared to the three months average volume of 62M shares.

The share price of New Oriental Education & Technology Group Inc. (NYSE:EDU) ran up 7.76% to close Wednesday’s market session at $2.36, higher as compared to yesterday’s close which brings the market valuation of the company to $4.24B.

The 52-week high for the New Oriental Education & Technology Group Inc.’s shares is $19.9740. That puts it -88.18% from that peak but still a massive gain since the share price dropped to a 52-week low of $1.94, while the S&P 500’s share price change was of 37.5%.

The company currently has a 9.83 P/E ratio and a price target of $16.31.

What does the trading volume tell us about the EDU stock?

During the last trading session, New Oriental Education & Technology Group Inc. (NYSE:EDU) has seen growth in its daily volume. The daily volume was of 62M, while in the last 10 days the average was 260.69M and last three months – 56.43M.
The increasing interest in the EDU stock from the investors is helping to drive the stock price up.

Growing short interest

The New Oriental Education & Technology Group Inc.’s shares are seeing an increasing short interest compared to the previous month. As of today, there are 56.46M shares being shorted which translates into 1.96 of a short ratio for EDU, while in the previous month the shorted shares were 45.13M.

New Oriental Education & Technology Group Inc. (NYSE:EDU) financials

With a market cap of 4.24B, New Oriental Education & Technology Group Inc. holds a total cash of $6.08B that translates into $3.6 per share, while the total debt is of $2.02B.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 29.00%. The current revenue is of $3.86B that is $2.39 per share.
This is a great sign for a bright future.