Noah (NYSE:NOAH) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Noah shares crossed above their 200-day moving average ($11.23) on Monday, trading as high as $11.50 and last at $11.4850 on volume of 147,327, a short-term technical bullish signal.
• Analysts are largely cautious with an average rating of Hold (one Buy, three Hold) and an average price target of $10.75, amid recent downgrades and target cuts such as UBS lowering its target to $10.00.
• Institutional activity has been notable, with FIL Ltd holding about 6.38M shares (~$64M), Mirae Asset adding a new ~$14.1M stake, and institutions owning roughly 42.67% of the company.

Shares of Noah Holdings Ltd. (NYSE:NOAH - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.23 and traded as high as $11.50. Noah shares last traded at $11.4850, with a volume of 147,327 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on NOAH. Wall Street Zen lowered shares of Noah from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Weiss Ratings reissued a "hold (c-)" rating on shares of Noah in a research report on Monday, December 29th. Zacks Research raised shares of Noah from a "strong sell" rating to a "hold" rating in a research note on Monday, February 23rd. Finally, UBS Group dropped their target price on Noah from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $10.75.

Noah Stock Up 1.0%

The business has a 50 day simple moving average of $11.66 and a two-hundred day simple moving average of $11.23. The firm has a market cap of $770.07 million, a PE ratio of 8.90 and a beta of 0.73.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Noah in the 2nd quarter valued at about $14,128,000. FIL Ltd grew its stake in Noah by 7.1% in the 4th quarter. FIL Ltd now owns 6,377,766 shares of the asset manager's stock worth $64,033,000 after acquiring an additional 424,717 shares in the last quarter. Nuveen LLC increased its position in shares of Noah by 35.0% during the fourth quarter. Nuveen LLC now owns 454,675 shares of the asset manager's stock worth $4,565,000 after acquiring an additional 117,971 shares during the period. Sei Investments Co. increased its position in shares of Noah by 549.8% during the third quarter. Sei Investments Co. now owns 78,178 shares of the asset manager's stock worth $906,000 after acquiring an additional 66,146 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Noah during the third quarter valued at approximately $582,000. Hedge funds and other institutional investors own 42.67% of the company's stock.

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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