Short Interest in Noah Holdings Ltd. (NYSE:NOAH) Increases By 27.3%

Key Points

• Short interest rose 27.3% to 360,759 shares as of April 15, equal to 1.0% of the float and a days-to-cover of 3.0 based on average daily volume.
• Analysts have downgraded the stock (Zacks to "strong sell", Wall Street Zen to "hold", JPMorgan to "neutral" with a $14.70→$12.00 PT), and the consensus rating is "Reduce" with an average price target of $11.00.
• Noah traded at $10.28 mid-day with a market cap of about $693.6M, a P/E of 9.26, and a 52-week range of $9.13–$12.84, putting the stock near the lower end of its yearly range.

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 360,759 shares, a growth of 27.3% from the March 31st total of 283,367 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 119,777 shares, the days-to-cover ratio is presently 3.0 days.

Noah Stock Performance

Shares of NOAH traded down $0.44 during mid-day trading on Wednesday, reaching $10.28. The stock had a trading volume of 36,025 shares, compared to its average volume of 134,008. The business has a fifty day moving average of $10.89 and a 200 day moving average of $10.95. The firm has a market cap of $693.56 million, a price-to-earnings ratio of 9.26 and a beta of 0.79. Noah has a 12 month low of $9.13 and a 12 month high of $12.84.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Noah from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 7th. Wall Street Zen lowered Noah from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Finally, JPMorgan Chase & Co. cut Noah from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $14.70 to $12.00 in a research report on Thursday, March 26th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $11.00.

Hedge Funds Weigh In On Noah

A number of hedge funds have recently made changes to their positions in the business. FIL Ltd raised its stake in Noah by 7.1% during the 4th quarter. FIL Ltd now owns 6,377,766 shares of the asset manager's stock valued at $64,033,000 after purchasing an additional 424,717 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Noah in the 2nd quarter worth approximately $14,128,000. Nuveen LLC grew its holdings in Noah by 35.0% during the 4th quarter. Nuveen LLC now owns 454,675 shares of the asset manager's stock valued at $4,565,000 after buying an additional 117,971 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its position in shares of Noah by 7.4% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 444,967 shares of the asset manager's stock valued at $4,467,000 after buying an additional 30,691 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Noah by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 428,178 shares of the asset manager's stock worth $4,301,000 after buying an additional 4,487 shares in the last quarter. 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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