Noah (NYSE:NOAH) Shares Gap Down – Time to Sell?

Shares of Noah Holdings Ltd. (NYSE:NOAH) gapped down before the market opened on Tuesday . The stock had previously closed at $10.48, but opened at $10.08. Noah shares last traded at $10.04, with a volume of 2,056 shares trading hands.

Analyst Ratings Changes

NOAH has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. downgraded shares of Noah from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $14.70 to $12.00 in a report on Thursday, March 26th. Zacks Research raised shares of Noah from a “strong sell” rating to a “hold” rating in a report on Monday. Weiss Ratings raised shares of Noah from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.00.

Noah Stock Performance

The business’s fifty day moving average price is $10.42 and its 200-day moving average price is $10.83. The stock has a market cap of $697.23 million, a PE ratio of 9.31 and a beta of 0.80.

Hedge Funds Weigh In On Noah

Several institutional investors have recently made changes to their positions in NOAH. Federation des caisses Desjardins du Quebec bought a new position in shares of Noah in the 4th quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Noah in the 3rd quarter worth approximately $84,000. Quadrant Capital Group LLC bought a new position in shares of Noah in the 3rd quarter worth approximately $85,000. IMC Chicago LLC bought a new position in shares of Noah in the 1st quarter worth approximately $100,000. Finally, Kestra Private Wealth Services LLC bought a new position in shares of Noah in the 1st quarter worth approximately $103,000. Institutional investors own 42.67% of the company’s stock.

Noah Company Profile

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.