New Oriental Education Tech ( (EDU) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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New Oriental Education and Technology Group (EDU) shares are under pressure after a period of sharp gains driven largely by technical factors and valuation calls rather than fresh company news. The latest move looks like a cooldown as traders reassess how much of the upbeat outlook is already priced into the stock.
Previously, analysts had highlighted that EDU was trading more than 20 percent below their estimates of fair value and reiterated a consensus Buy rating. Those targets were supported by optimism over the company’s push into non-academic tutoring and e-commerce, which had fueled the earlier rebound in the share price.
More about New Oriental Education Tech
YTD Price Performance: 2.65%
Average Trading Volume: 945,417
Technical Sentiment Signal: Buy
Current Market Cap: $9.19B
For further insights into EDU stock on TipRanks’ Stock Analysis page.
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