Noah Holdings Sees Strong Trading Volume After Earnings Beat (NOAH)
Shares of Noah Holdings (NASDAQ:NOAH) saw strong trading volume on Tuesday following a better than expected earnings announcement, AnalystRatings.NET reports. 950,787 shares were traded during mid-day trading, an increase of 161% from the previous session’s volume of 364,383 shares.The stock last traded at $17.53 and had previously closed at $16.60.
The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.11. The company had revenue of $71.40 million for the quarter, compared to the consensus estimate of $56.67 million.
Separately, analysts at Zacks downgraded shares of Noah Holdings from an “outperform” rating to a “neutral” rating in a research note on Friday, August 1st. They now have a $18.10 price target on the stock.
The stock’s 50-day moving average is $14.91 and its 200-day moving average is $14.44. The company has a market cap of $965.2 million and a price-to-earnings ratio of 15.85.
Noah Holdings Limited, through its subsidiaries is a service provider focusing on distributing wealth management products to the high net worth population in the People’s Republic of China (NASDAQ:NOAH).
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