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

Noah (NYSE:NOAH) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

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

Noah Stock Performance

NOAH stock opened at $10.71 on Tuesday. The stock has a market capitalization of $708.57 million, a P/E ratio of 9.15 and a beta of 0.79. Noah has a one year low of $7.14 and a one year high of $15.44. The company has a 50 day moving average price of $11.94 and a two-hundred day moving average price of $10.36.

Hedge Funds Weigh In On Noah

A number of hedge funds have recently made changes to their positions in NOAH. Signaturefd LLC boosted its position in shares of Noah by 2,218.7% in the third 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. boosted its position in Noah by 510.7% in the 3rd quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock valued at $49,000 after buying an additional 3,330 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Noah in the 3rd quarter valued at about $65,000. JBF Capital Inc. acquired a new stake in shares of Noah during the second quarter valued at about $106,000. Finally, Wolverine Trading LLC purchased a new stake in shares of Noah during the third quarter worth about $196,000. Hedge funds and other institutional investors own 42.67% of the company’s stock.

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.