Noah (NYSE:NOAH) Shares Gap Down – What’s Next?

Shares of Noah Holdings Ltd. (NYSE:NOAH) gapped down prior to trading on Tuesday . The stock had previously closed at $10.48, but opened at $10.08. Noah shares last traded at $10.04, with a volume of 2,056 shares.

Wall Street Analyst Weigh In

NOAH has been the subject of a number of research analyst reports. JPMorgan Chase & Co. downgraded Noah from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $14.70 to $12.00 in a report on Thursday, March 26th. Zacks Research downgraded Noah from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 7th. Weiss Ratings upgraded Noah from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen downgraded Noah from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $11.00.

Noah Price Performance

The stock has a market cap of $675.17 million, a P/E ratio of 9.02 and a beta of 0.80. The company has a fifty day moving average price of $10.48 and a 200 day moving average price of $10.84.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Creative Planning boosted its position in shares of Noah by 10.6% during the third quarter. Creative Planning now owns 12,516 shares of the asset manager’s stock valued at $145,000 after buying an additional 1,195 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Noah by 1.5% during the second quarter. American Century Companies Inc. now owns 139,499 shares of the asset manager’s stock valued at $1,666,000 after buying an additional 2,084 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Noah by 2.2% during the second quarter. Bank of America Corp DE now owns 99,919 shares of the asset manager’s stock valued at $1,193,000 after buying an additional 2,163 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Noah by 17.7% during the third quarter. BNP Paribas Financial Markets now owns 16,070 shares of the asset manager’s stock valued at $186,000 after buying an additional 2,412 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Noah by 10.0% during the second quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager’s stock valued at $429,000 after buying an additional 3,251 shares during the last quarter. Hedge funds and other institutional investors own 42.67% of the company’s stock.

Noah Company Profile

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.