Noah (NYSE:NOAH) Reaches New 52-Week Low - Here's What Happened

Key Points

• Noah shares fell to a new 52-week low of $7.95, below the 50-day and 200-day moving averages of $8.50 and $9.71, respectively.
• Analyst sentiment has weakened: JPMorgan cut its price target to $9.70 and maintained a neutral rating, while other firms downgraded the stock. The consensus rating is Hold, with a $9.85 target price.
• Noah reported quarterly EPS of $0.51 on $91.24 million in revenue, with a 22.57% net margin. Institutional investors own 42.67% of the stock, and several major funds increased their positions.

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report) shares reached a new 52-week low on Thursday . The company traded as low as $7.95 and last traded at $7.96, with a volume of 30289 shares traded. The stock had previously closed at $8.00.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Noah from $10.50 to $9.70 and set a "neutral" rating on the stock in a research note on Monday. Wall Street Zen downgraded shares of Noah from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings lowered shares of Noah from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, July 10th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Noah presently has an average rating of "Hold" and a consensus target price of $9.85.

Noah Stock Performance

The stock has a fifty day simple moving average of $8.50 and a two-hundred day simple moving average of $9.71. The stock has a market cap of $548.01 million, a price-to-earnings ratio of 6.52 and a beta of 0.82.

Noah (NYSE:NOAH - Get Free Report) last posted its earnings results 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 firm had revenue of $91.24 million during the quarter. Equities analysts expect that Noah Holdings Ltd. will post 1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Noah

Large investors have recently bought and sold shares of the company. State Street Corp raised its holdings in Noah by 2.9% during the second quarter. State Street Corp now owns 322,218 shares of the asset manager's stock worth $3,219,000 after buying an additional 8,948 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Noah by 33.8% during the second quarter. Hsbc Holdings PLC now owns 26,776 shares of the asset manager's stock valued at $269,000 after buying an additional 6,770 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in shares of Noah during the second quarter worth about $105,000. Renaissance Technologies LLC increased its position in shares of Noah by 132.4% during the first 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 increased its position in shares of Noah by 9.4% during the first quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager's stock worth $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.

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.

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