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

Shares of Noah Holdings Ltd. (NYSE:NOAH) reached a new 52-week low on Tuesday. The stock traded as low as $7.64 and last traded at $7.6770, with a volume of 118187 shares traded. The stock had previously closed at $7.79.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Noah from $10.50 to $9.70 and set a “neutral” rating for the company in a report on Monday, September 21st. Weiss Ratings cut shares of Noah from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Finally, Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.85.

Noah Trading Down 0.2%

The firm has a market capitalization of $529.15 million, a PE ratio of 6.30 and a beta of 0.83. The company has a fifty day moving average price of $8.32 and a two-hundred day moving average price of $9.45.

Noah (NYSE:NOAH) last released its quarterly earnings results on Friday, August 14th. The asset manager reported $0.51 earnings per share (EPS) for the quarter. The firm 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%. As a group, equities research analysts predict that Noah Holdings Ltd. will post 1.37 earnings per share for the current year.

Hedge Funds Weigh In On Noah

A number of hedge funds have recently modified their holdings of NOAH. Dimensional Fund Advisors LP increased its holdings in shares of Noah by 9.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager’s stock valued at $4,641,000 after acquiring an additional 40,332 shares during the period. State Street Corp grew its position in Noah by 2.9% during the 2nd quarter. State Street Corp now owns 322,218 shares of the asset manager’s stock worth $3,219,000 after purchasing an additional 8,948 shares during the last quarter. Renaissance Technologies LLC grew 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 worth $945,000 after purchasing an additional 54,400 shares during the last quarter. Hsbc Holdings PLC grew 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 worth $725,000 after purchasing an additional 23,217 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Noah in the first quarter valued at $116,000. 42.67% of the stock is currently owned by hedge funds and other institutional investors.

About Noah

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.