Noah (NYSE:NOAH) Shares Gap Down - What's Next?

Noah Holdings Limited (NYSE:NOAH - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $11.59, but opened at $11.25. Noah shares last traded at $11.21, with a volume of 150 shares.

Analyst Ratings Changes

NOAH has been the topic of a number of recent research reports. JPMorgan Chase & Co. restated a "neutral" rating and issued a $12.00 price objective (up previously from $10.50) on shares of Noah in a report on Wednesday. StockNews.com cut shares of Noah from a "buy" rating to a "hold" rating in a report on Sunday, March 2nd. Finally, Morgan Stanley cut shares of Noah from an "overweight" rating to an "equal weight" rating and set a $13.00 price objective on the stock. in a report on Friday, November 29th.

Noah Stock Down 1.4 %

The stock's fifty day moving average price is $11.03 and its 200 day moving average price is $11.20. The stock has a market cap of $727.69 million, a PE ratio of 9.43 and a beta of 0.71.

Institutional Investors Weigh In On Noah

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in shares of Noah by 1,188.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager's stock valued at $28,000 after buying an additional 2,187 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in Noah during the fourth quarter valued at approximately $39,000. Cubist Systematic Strategies LLC bought a new position in Noah during the fourth quarter valued at approximately $52,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Noah during the third quarter valued at approximately $65,000. Finally, BNP Paribas Financial Markets bought a new position in Noah during the fourth quarter valued at approximately $72,000. Hedge funds and other institutional investors own 42.67% of the company's stock.

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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.