Noah (NYSE:NOAH) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Noah shares crossed above their 200-day moving average of $10.93, trading as high as $11.05 and last at $10.9460 on volume of 60,196 shares.
• Analyst sentiment has turned cautious with a MarketBeat consensus rating of "Reduce" and an average price target of $11.00 after several downgrades (including JPMorgan and Zacks); the stock currently has three Hold ratings and one Sell.
• Institutional ownership is about 42.67%, with several funds recently increasing positions, and the company has a market cap of $738.31 million and a P/E of 9.86.

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.93 and traded as high as $11.05. Noah shares last traded at $10.9460, with a volume of 60,196 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NOAH shares. Weiss Ratings raised shares of Noah from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. downgraded shares of Noah from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $14.70 to $12.00 in a report on Thursday, March 26th. Zacks Research lowered Noah from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 7th. Finally, Wall Street Zen cut Noah from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $11.00.

Noah Price Performance

The firm's 50-day moving average price is $10.81 and its 200-day moving average price is $10.93. The stock has a market cap of $738.31 million, a P/E ratio of 9.86 and a beta of 0.80.

Institutional Trading of Noah

A number of institutional investors and hedge funds have recently bought and sold shares of NOAH. Cubist Systematic Strategies LLC lifted its stake in Noah by 307.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager's stock worth $170,000 after purchasing an additional 13,564 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Noah by 17.9% in the second quarter. Geode Capital Management LLC now owns 26,896 shares of the asset manager's stock worth $321,000 after purchasing an additional 4,080 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Noah by 1.5% in the second quarter. American Century Companies Inc. now owns 139,499 shares of the asset manager's stock worth $1,666,000 after purchasing an additional 2,084 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Noah by 10.0% in the second quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager's stock worth $429,000 after buying an additional 3,251 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Noah during the second quarter valued at approximately $306,000. 42.67% of the stock is currently owned by institutional investors.

About Noah

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.

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