Noah (NYSE:NOAH) Trading Up 4% Following Analyst Upgrade

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report)'s share price shot up 4% on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock traded as high as $10.54 and last traded at $10.57. 17,235 shares were traded during mid-day trading, a decline of 88% from the average session volume of 144,287 shares. The stock had previously closed at $10.16.

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Noah in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $11.50.

Read Our Latest Analysis on NOAH

Institutional Investors Weigh In On Noah

A number of hedge funds have recently added to or reduced their stakes in NOAH. Signaturefd LLC lifted its holdings in shares of Noah by 124.7% in the 2nd quarter. Signaturefd LLC now owns 5,778 shares of the asset manager's stock worth $69,000 after purchasing an additional 3,207 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Noah during the third quarter valued at about $84,000. Quadrant Capital Group LLC bought a new stake in shares of Noah during the third quarter worth about $85,000. New York State Common Retirement Fund acquired a new stake in shares of Noah in the 3rd quarter worth about $105,000. Finally, Centiva Capital LP bought a new position in Noah in the 3rd quarter valued at about $118,000. Institutional investors and hedge funds own 42.67% of the company's stock.

Noah Stock Performance

The business has a 50 day simple moving average of $11.25 and a 200-day simple moving average of $11.53. The firm has a market cap of $700.49 million, a price-to-earnings ratio of 9.44 and a beta of 0.88.

Noah (NYSE:NOAH - Get Free Report) last posted its earnings results on Tuesday, November 25th. The asset manager reported $0.46 earnings per share for the quarter. The company had revenue of $88.90 million for the quarter, compared to analyst estimates of $92.22 million. Noah had a return on equity of 6.44% and a net margin of 22.17%. As a group, research analysts anticipate that Noah Holdings Ltd. will post 0.93 earnings per share for the current year.

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.

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