Noah (NYSE:NOAH) Sees Unusually-High Trading Volume – What’s Next?

Noah Holdings Ltd. (NYSE:NOAH) shares saw unusually-high trading volume on Tuesday . Approximately 228,461 shares traded hands during trading, an increase of 81% from the previous session’s volume of 126,447 shares.The stock last traded at $11.45 and had previously closed at $11.49.

Wall Street Analyst Weigh In

NOAH has been the subject of several recent research reports. UBS Group decreased their price target on Noah from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, December 22nd. Wall Street Zen lowered Noah from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Zacks Research upgraded Noah from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Noah in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.75.

Noah Stock Performance

The firm’s 50 day moving average price is $11.66 and its two-hundred day moving average price is $11.23. The company has a market cap of $769.20 million, a P/E ratio of 8.90 and a beta of 0.73.

Hedge Funds Weigh In On Noah

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in Noah in the fourth quarter worth approximately $115,000. Federation des caisses Desjardins du Quebec bought a new stake in shares of Noah during the fourth quarter valued at approximately $41,000. 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 worth $4,467,000 after purchasing an additional 30,691 shares during the period. Centiva Capital LP acquired a new position in shares of Noah during the third quarter worth approximately $118,000. Finally, Creative Planning lifted its holdings in shares of Noah by 10.6% in the 3rd quarter. Creative Planning now owns 12,516 shares of the asset manager’s stock worth $145,000 after purchasing an additional 1,195 shares in the last quarter. Institutional investors and hedge funds 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.