Noah (NYSE:NOAH) Reaches New 12-Month Low - Should You Sell?

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report)'s stock price hit a new 52-week low on Wednesday. The stock traded as low as $7.80 and last traded at $7.8290, with a volume of 73945 shares changing hands. The stock had previously closed at $7.96.

Wall Street Analysts Forecast Growth

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

Noah Trading Down 1.6%

The firm's fifty day moving average price is $8.42 and its 200-day moving average price is $9.61. The company has a market cap of $534.96 million, a P/E ratio of 6.37 and a beta of 0.82.

Noah (NYSE:NOAH - Get Free Report) last released its earnings results on Friday, August 14th. The asset manager reported $0.51 earnings per share for the quarter. Noah had a net margin of 22.57% and a return on equity of 6.37%. The business had revenue of $91.24 million during the quarter. As a group, research analysts forecast that Noah Holdings Ltd. will post 1.38 earnings per share for the current fiscal year.

Institutional Trading of Noah

A number of hedge funds have recently modified their holdings of the company. IMC Chicago LLC acquired a new stake in shares of Noah during the 1st quarter worth approximately $100,000. Kestra Private Wealth Services LLC acquired a new position in shares of Noah in the first quarter valued at $103,000. Ramsey Quantitative Systems acquired a new position in shares of Noah in the second quarter valued at $105,000. SG Americas Securities LLC bought a new position in Noah in the first quarter worth $116,000. Finally, Hsbc Holdings PLC lifted its position in Noah by 33.8% in the second quarter. Hsbc Holdings PLC now owns 26,776 shares of the asset manager's stock worth $269,000 after purchasing an additional 6,770 shares during the period. Institutional investors own 42.67% of the company's stock.

About Noah

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.