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

StockNews.com upgraded shares of Noah (NYSE:NOAH) from a hold rating to a buy rating in a research note released on Thursday.

A number of other brokerages also recently issued reports on NOAH. Morgan Stanley downgraded Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target for the company. in a report on Friday, November 29th. UBS Group cut shares of Noah from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a research note on Thursday, October 24th.

Noah Stock Performance

NYSE NOAH opened at $10.58 on Thursday. The firm has a market capitalization of $697.94 million, a P/E ratio of 9.04 and a beta of 0.79. The stock has a 50-day simple moving average of $11.72 and a two-hundred day simple moving average of $10.36. Noah has a fifty-two week low of $7.14 and a fifty-two week high of $15.44.

Institutional Trading of Noah

Several institutional investors have recently bought and sold shares of NOAH. Signaturefd LLC raised its stake in shares of Noah by 2,218.7% during the 3rd quarter. Signaturefd LLC now owns 2,481 shares of the asset manager’s stock worth $31,000 after buying an additional 2,374 shares during the period. Blue Trust Inc. raised its position in Noah by 510.7% during the third quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock worth $49,000 after acquiring an additional 3,330 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Noah during the third quarter valued at $65,000. Wolverine Trading LLC acquired a new stake in shares of Noah in the third quarter valued at about $196,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Noah during the third quarter worth about $199,000. 42.67% of the stock is owned by institutional investors and hedge funds.

Noah Company Profile

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.