Noah (NYSE:NOAH) Stock Price Down 2.9% – What’s Next?

Noah Holdings Limited (NYSE:NOAH) shares fell 2.9% during mid-day trading on Thursday . The stock traded as low as $11.48 and last traded at $11.57. 15,452 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 194,613 shares. The stock had previously closed at $11.91.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NOAH. Morgan Stanley cut Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target on the stock. in a research report on Friday, November 29th. UBS Group lowered shares of Noah from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a research report on Thursday, October 24th.

Noah Price Performance

The stock has a market capitalization of $767.14 million, a P/E ratio of 9.90 and a beta of 0.80. The stock has a fifty day moving average price of $12.20 and a 200 day moving average price of $10.31.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NOAH. Signaturefd LLC lifted its holdings in shares of Noah by 2,218.7% in the third quarter. Signaturefd LLC now owns 2,481 shares of the asset manager’s stock worth $31,000 after buying an additional 2,374 shares in the last quarter. Blue Trust Inc. lifted its stake in Noah by 510.7% in the 3rd quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock worth $49,000 after purchasing an additional 3,330 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Noah in the 3rd quarter valued at $65,000. JBF Capital Inc. bought a new position in Noah in the 2nd quarter valued at $106,000. Finally, Wolverine Trading LLC purchased a new position in shares of Noah during the 3rd quarter valued at $196,000. Institutional investors own 42.67% of the company’s stock.

About Noah

Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services.