Wall Street Zen Upgrades Noah (NYSE:NOAH) to “Buy”

Noah (NYSE:NOAH) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Noah from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Zacks Research raised shares of Noah from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, JPMorgan Chase & Co. cut their price target on Noah from $12.00 to $11.50 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.75.

Noah Stock Performance

Shares of NYSE:NOAH opened at $8.88 on Friday. The business’s fifty day moving average price is $10.08 and its two-hundred day moving average price is $10.73. The stock has a market cap of $598.82 million, a PE ratio of 8.22 and a beta of 0.80. Noah has a one year low of $8.63 and a one year high of $12.84.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Federation des caisses Desjardins du Quebec purchased a new stake in Noah during the fourth quarter worth approximately $41,000. Quadrant Capital Group LLC acquired a new stake in shares of Noah in the third quarter worth $85,000. IMC Chicago LLC purchased a new position in shares of Noah in the 1st quarter valued at $100,000. Centiva Capital LP purchased a new position in shares of Noah in the 3rd quarter valued at $118,000. Finally, Kestra Private Wealth Services LLC acquired a new position in shares of Noah during the 1st quarter valued at $103,000. Hedge funds and other institutional investors own 42.67% of the company’s stock.

About Noah

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.