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

Key Points

• Noah Holdings shares fell to a new 52-week low, trading as low as $7.64 and below both its 50-day moving average of $8.36 and 200-day moving average of $9.50.
• Analyst sentiment is cautious: four analysts rate the stock “Hold,” with a consensus price target of $9.85; JPMorgan recently lowered its target to $9.70.
• The company reported quarterly EPS of $0.51 on $91.24 million in revenue, while institutional investors and hedge funds own approximately 42.67% of the stock.

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report)'s share price hit 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 trading hands. The stock had previously closed at $7.79.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NOAH shares. Weiss Ratings cut Noah from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, July 10th. JPMorgan Chase & Co. cut their price target on shares of Noah from $10.50 to $9.70 and set a "neutral" rating for the company in a report on Monday, September 21st. Finally, Wall Street Zen downgraded shares of Noah from a "buy" rating to a "hold" rating in a 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 price target of $9.85.

Noah Stock Performance

The firm's 50 day simple moving average is $8.36 and its 200-day simple moving average is $9.50. The company has a market cap of $524.57 million, a price-to-earnings ratio of 6.24 and a beta of 0.83.

Noah (NYSE:NOAH - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The asset manager reported $0.51 EPS for the quarter. Noah had a net margin of 22.57% and a return on equity of 6.37%. The company had revenue of $91.24 million during the quarter. As a group, sell-side analysts expect that Noah Holdings Ltd. will post 1.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Noah

Several institutional investors and hedge funds have recently bought and sold shares of NOAH. State Street Corp raised its holdings in Noah by 2.9% in the 2nd quarter. State Street Corp now owns 322,218 shares of the asset manager's stock valued at $3,219,000 after buying an additional 8,948 shares during the period. Hsbc Holdings PLC raised its stake in shares of Noah by 33.8% in the 2nd quarter. Hsbc Holdings PLC now owns 26,776 shares of the asset manager's stock valued at $269,000 after acquiring an additional 6,770 shares during the period. Ramsey Quantitative Systems purchased a new stake in Noah in the second quarter valued at approximately $105,000. Renaissance Technologies LLC lifted its stake 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 acquiring an additional 54,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in 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 in the last quarter. 42.67% of the stock is currently owned by institutional investors and hedge funds.

Noah Company Profile

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.

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