Noah (NYSE:NOAH) Rating Increased to Buy at StockNews.com

Noah (NYSE:NOAH) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

NOAH has been the subject of several other reports. Morgan Stanley cut Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 target price for the company. in a research report on Friday, November 29th. UBS Group cut shares of Noah from a “buy” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research note on Thursday, October 24th.

Noah Stock Up 0.7 %

Noah stock traded up $0.07 during trading hours on Tuesday, hitting $10.72. The stock had a trading volume of 210,897 shares, compared to its average volume of 133,549. The company has a 50-day moving average of $11.98 and a two-hundred day moving average of $10.35. Noah has a fifty-two week low of $7.14 and a fifty-two week high of $15.44. The company has a market cap of $709.24 million, a PE ratio of 9.16 and a beta of 0.79.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Signaturefd LLC boosted its stake in shares of Noah by 2,218.7% in the 3rd quarter. Signaturefd LLC now owns 2,481 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 2,374 shares in the last quarter. Blue Trust Inc. lifted its holdings in Noah by 510.7% during the 3rd quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 3,330 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Noah in the third quarter valued at about $65,000. JBF Capital Inc. bought a new stake in Noah during the second quarter worth about $106,000. Finally, Wolverine Trading LLC acquired a new stake in shares of Noah during the third quarter worth approximately $196,000. 42.67% of the stock is currently owned by institutional investors and hedge funds.

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.