Noah (NYSE:NOAH) Sets New 12-Month Low – What’s Next?

Noah Holdings Ltd. (NYSE:NOAH)’s stock price hit a new 52-week low during trading on Monday. The stock traded as low as $7.51 and last traded at $7.5860, with a volume of 570 shares trading hands. The stock had previously closed at $7.57.

Analyst Ratings Changes

A number of research firms have recently weighed in on NOAH. JPMorgan Chase & Co. dropped their target price on shares of Noah from $10.50 to $9.70 and set a “neutral” rating for the company in a report on Monday, September 21st. Wall Street Zen cut Noah from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Noah in a report on Tuesday, October 6th. Four investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Noah has an average rating of “Hold” and a consensus price target of $9.85.

Noah Trading Down 0.9%

The stock has a market cap of $510.77 million, a PE ratio of 5.80 and a beta of 0.83. The business has a fifty day simple moving average of $8.25 and a two-hundred day simple moving average of $9.34.

Noah (NYSE:NOAH) last released its earnings results on Friday, August 14th. The asset manager reported $0.51 EPS for the quarter. Noah had a return on equity of 6.37% and a net margin of 22.57%. The company had revenue of $91.24 million during the quarter. On average, research analysts predict that Noah Holdings Ltd. will post 1.37 earnings per share for the current year.

Hedge Funds Weigh In On Noah

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Noah by 9.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager’s stock valued at $4,641,000 after buying an additional 40,332 shares in the last quarter. State Street Corp increased its stake in shares of Noah by 2.9% in the 2nd quarter. State Street Corp now owns 322,218 shares of the asset manager’s stock worth $3,219,000 after acquiring an additional 8,948 shares in the last quarter. Renaissance Technologies LLC lifted its position in Noah by 132.4% during the 1st quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager’s stock valued at $945,000 after acquiring an additional 54,400 shares during the period. Hsbc Holdings PLC lifted its position in Noah by 47.7% during the 4th quarter. Hsbc Holdings PLC now owns 71,912 shares of the asset manager’s stock valued at $725,000 after acquiring an additional 23,217 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Noah during the 1st quarter valued at about $116,000. Hedge funds and other institutional investors own 42.67% of the company’s stock.

Noah Company Profile

Noah Holdings Limited is a financial services company that provides wealth management and asset management services. The company serves high-net-worth individuals, families and institutional clients, offering investment products and advisory solutions designed to support wealth preservation, allocation and growth.

Through its wealth management business, Noah distributes and advises on a range of products, including private equity, public securities, credit and other alternative investment strategies.