The Market Myopia Regarding Noah Holdings Limited (NOAH)

The stock of Noah Holdings Limited (NYSE:NOAH) has been Upgraded to Overweight from Neutral by JP Morgan in its latest research note that was published on May 29. Citigroup analysts have downgraded their rating of NOAH stock from Buy to Neutral in a separate flash note to investors on April 17. Analysts at JP Morgan downgraded the stock to a Neutral call from its previous Overweight stance, in a research note that dated back to March 14.

Noah’s stock is covered by 4 analysts, with none of them rating the stock as Buy. It has been deemed to have strong buy by 2 of the analysts, 2 of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only none analysts. 3 of them rated it as strong buy with 3 of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that NOAH has an average analyst rating of 2.50.

Noah Holdings Limited, which has current market capitalization of above $2 Billion, published its last quarter earnings on March 31, 2019. The company was able to amass $94.16 million in revenue. This figure is $98427.84 million more than what analysts had expected which was $98522 million. During the first quarter of the year, Noah also recorded $0.56 earnings per share (EPS) which is $0.05 above the $0.51 estimated by Thomson Reuter’s analyst, leading to a surprise factor of 9.8%.

NOAH surged by $1.28 during the normal trading session on Tuesday and reaching a high of $30.31 during the day while it closed the day at $29.84. The Noah stock had a low trading volume of 0.45 million shares on that day, which is low compared to the average daily volume of 512.50M shares. NOAH has also lost 1.75% of its value over the past 7 days. However, the stock has declined by 34.26% in the 3 months of the year. Over the past six months meanwhile, it has lost 38.52% while it has lost 31.12% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -37.73% from its 3 months high price. However, taking another look at NOAH will indicate that it is trading +5.63% away from its 90-day low. Looking at the bigger picture, the Noah Holdings Limited stock has dropped by -50.38% from its 52-week high while it has surged by +5.63% from its 52-week low price.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 9.34%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 25.36%. Over the past 20 days, Noah’s Stochastic %K stood at 13.12% while its Stochastic %D was revealed to be 12.73%.