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Noah (NYSE:NOAH) Upgraded by StockNews.com to Buy Rating

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Noah (NYSE:NOAH - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Wednesday.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $12.00 target price (up previously from $10.50) on shares of Noah in a report on Wednesday, March 5th. Morgan Stanley downgraded 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.

Read Our Latest Stock Report on NOAH

Noah Trading Up 0.6 %

Shares of NYSE NOAH traded up $0.07 during midday trading on Wednesday, reaching $10.70. 42,800 shares of the company were exchanged, compared to its average volume of 195,055. The stock has a market cap of $705.59 million, a P/E ratio of 9.14 and a beta of 0.71. Noah has a 1 year low of $7.14 and a 1 year high of $15.44. The stock has a fifty day simple moving average of $10.97 and a 200 day simple moving average of $11.25.

Institutional Investors Weigh In On Noah

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its holdings in shares of 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 valued at $223,000 after purchasing an additional 2,930 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of Noah during the 4th quarter worth approximately $454,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Noah in the 4th quarter worth approximately $52,000. Bank of America Corp DE raised its holdings in Noah by 1,066.6% during the fourth quarter. Bank of America Corp DE now owns 83,902 shares of the asset manager's stock worth $982,000 after purchasing an additional 76,710 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Noah during the fourth quarter worth $72,000. Institutional investors and hedge funds own 42.67% of the company's stock.

About Noah

(Get Free Report)

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.

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