Noah (NYSE:NOAH) Stock Crosses Above 200 Day Moving Average – Here’s Why

Noah Holdings Limited (NYSE:NOAH) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.43 and traded as high as $10.96. Noah shares last traded at $10.84, with a volume of 19,105 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have commented on NOAH. UBS Group lowered shares of Noah from a “buy” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research note on Thursday, October 24th. Morgan Stanley cut shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target for the company. in a research note on Friday, November 29th. Finally, StockNews.com raised shares of Noah from a “hold” rating to a “buy” rating in a research report on Thursday, January 16th.

Noah Trading Up 0.6 %

The company has a 50-day simple moving average of $11.56 and a 200 day simple moving average of $10.46. The company has a market cap of $720.79 million, a P/E ratio of 9.34 and a beta of 0.79.

Noah (NYSE:NOAH) last posted its quarterly earnings results on Tuesday, November 26th. The asset manager reported $0.30 EPS for the quarter. Noah had a net margin of 23.53% and a return on equity of 6.43%. On average, equities analysts forecast that Noah Holdings Limited will post 0.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Signaturefd LLC grew its position in shares of Noah by 2,218.7% during the 3rd 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. grew its holdings in Noah by 510.7% during the 3rd quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock worth $49,000 after acquiring an additional 3,330 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Noah during the 3rd quarter valued at about $65,000. Wolverine Trading LLC bought a new stake in shares of Noah in the 3rd quarter valued at about $196,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Noah in the 3rd quarter worth approximately $199,000. 42.67% of the stock is currently owned by hedge funds and other institutional investors.

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.