Noah (NYSE:NOAH) Sets New 1-Year Low – What’s Next?

Noah Holdings Ltd. (NYSE:NOAH) shares hit a new 52-week low during trading on Thursday . The company traded as low as $7.95 and last traded at $7.96, with a volume of 30289 shares. The stock had previously closed at $8.00.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NOAH. Weiss Ratings downgraded Noah from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. Wall Street Zen cut Noah from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, JPMorgan Chase & Co. decreased their price target on Noah from $10.50 to $9.70 and set a “neutral” rating for the company in a report on Monday. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Noah has a consensus rating of “Hold” and a consensus target price of $9.85.

Noah Price Performance

The stock has a fifty day moving average of $8.50 and a 200 day moving average of $9.71. The firm has a market capitalization of $548.01 million, a P/E ratio of 6.52 and a beta of 0.82.

Noah (NYSE:NOAH) last posted its quarterly earnings data on Friday, August 14th. The asset manager reported $0.51 earnings per share for the quarter. The business had revenue of $91.24 million for the quarter. Noah had a return on equity of 6.37% and a net margin of 22.57%. Equities analysts forecast that Noah Holdings Ltd. will post 1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Noah

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in Noah by 9.4% during the first quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager’s stock worth $4,641,000 after buying an additional 40,332 shares during the last quarter. State Street Corp raised its position in Noah by 2.9% in the second 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 during the period. Renaissance Technologies LLC boosted its stake in Noah by 132.4% in the first 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 last quarter. Hsbc Holdings PLC boosted its stake in Noah by 47.7% in the fourth 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 last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Noah during the 1st quarter valued at approximately $116,000. 42.67% of the stock is owned by hedge funds and other institutional investors.

Noah Company Profile

Noah Holdings Limited (NYSE: NOAH) is a Chinese wealth management and asset management services company. The company provides financial products and advisory services primarily to high-net-worth individuals, families, and institutional clients.

Its wealth management business offers clients access to a range of investment products, including private equity, public securities, credit and other alternative investments. Through its asset management operations, Noah develops and manages investment products and strategies for individual and institutional investors.

Founded in 2005, Noah serves clients through operations in mainland China and other financial centers, including Hong Kong.