Noah (NYSE:NOAH) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Noah (NYSE:NOAH) from a hold rating to a buy rating in a report issued on Wednesday morning.

Other analysts also recently issued reports about the company. Morgan Stanley downgraded Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective for the company. in a research note on Friday, November 29th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $12.00 price objective (up from $10.50) on shares of Noah in a research note on Wednesday, March 5th.

Noah Stock Performance

Shares of NYSE:NOAH opened at $10.70 on Wednesday. The business’s 50 day simple moving average is $10.97 and its two-hundred day simple moving average is $11.25. The firm has a market cap of $705.59 million, a P/E ratio of 9.14 and a beta of 0.71. Noah has a 52-week low of $7.14 and a 52-week high of $15.44.

Institutional Trading of Noah

Several institutional investors and hedge funds have recently modified their holdings of NOAH. Tower Research Capital LLC TRC increased its position 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 acquiring an additional 2,187 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in shares of Noah during the fourth quarter valued at approximately $39,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Noah during the fourth quarter valued at approximately $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Noah during the third quarter valued at approximately $65,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Noah during the fourth quarter valued at approximately $72,000. 42.67% of the stock is 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.