Noah (NYSE:NOAH) Shares Up 6.7% – Time to Buy?

Noah Holdings Limited (NYSE:NOAH)’s stock price shot up 6.7% during mid-day trading on Monday . The stock traded as high as $11.17 and last traded at $11.34. 60,232 shares were traded during mid-day trading, a decline of 68% from the average session volume of 186,475 shares. The stock had previously closed at $10.63.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NOAH. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $12.00 price objective (up previously from $10.50) on shares of Noah in a research note on Wednesday, March 5th. StockNews.com raised shares of Noah from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Morgan Stanley cut shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective for the company. in a research report on Friday, November 29th.

Noah Stock Performance

The company has a market capitalization of $739.24 million, a PE ratio of 9.58 and a beta of 0.71. The company has a 50 day moving average price of $10.96 and a 200 day moving average price of $11.32.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its holdings in Noah by 1,188.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager’s stock worth $28,000 after buying an additional 2,187 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of Noah during the 4th quarter valued at approximately $39,000. Cubist Systematic Strategies LLC bought a new position in Noah during the fourth quarter worth $52,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Noah in the third quarter worth $65,000. Finally, BNP Paribas Financial Markets bought a new stake in Noah during the fourth quarter valued at $72,000. 42.67% of the stock is currently owned by 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.