Noah (NYSE:NOAH) Trading 4.5% Higher - Time to Buy?

Noah Holdings Limited (NYSE:NOAH - Get Free Report) traded up 4.5% during mid-day trading on Tuesday . The stock traded as high as $9.08 and last traded at $9.09. 43,147 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 185,313 shares. The stock had previously closed at $8.70.

Wall Street Analyst Weigh In

NOAH has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Noah from a "neutral" rating to an "overweight" rating and set a $11.50 price target on the stock in a research report on Wednesday, April 9th. StockNews.com lowered shares of Noah from a "buy" rating to a "hold" rating in a research note on Thursday, March 20th. Finally, UBS Group restated a "neutral" rating and issued a $11.50 target price on shares of Noah in a research note on Friday, March 28th.

Noah Trading Down 0.7 %

The company has a market capitalization of $557.61 million, a PE ratio of 7.22 and a beta of 0.78. The stock's fifty day moving average is $10.31 and its two-hundred day moving average is $11.31.

Noah (NYSE:NOAH - Get Free Report) last released its earnings results on Tuesday, March 25th. The asset manager reported $0.26 earnings per share for the quarter. Noah had a net margin of 23.53% and a return on equity of 6.43%. The firm had revenue of $89.31 million for the quarter, compared to analysts' expectations of $102.07 million. As a group, analysts anticipate that Noah Holdings Limited will post 0.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Noah

Several institutional investors and hedge funds have recently bought and sold shares of NOAH. Janney Montgomery Scott LLC purchased a new position in shares of Noah during the 1st quarter valued at $354,000. Public Employees Retirement System of Ohio boosted its stake in Noah by 18.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager's stock worth $223,000 after purchasing an additional 2,930 shares during the period. D. E. Shaw & Co. Inc. bought a new position in shares of Noah in the fourth quarter valued at approximately $454,000. Cubist Systematic Strategies LLC purchased a new position in Noah during the fourth quarter valued at approximately $52,000. Finally, Bank of America Corp DE increased its holdings in Noah by 1,066.6% during the 4th quarter. Bank of America Corp DE now owns 83,902 shares of the asset manager's stock worth $982,000 after acquiring an additional 76,710 shares during the period. 42.67% of the stock is owned by institutional investors.

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.