Noah (NYSE:NOAH) Upgraded at Wall Street Zen

Noah (NYSE:NOAH) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

NOAH has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of Noah from $12.00 to $11.50 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Zacks Research raised shares of Noah from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Weiss Ratings lowered shares of Noah from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.75.

Noah Stock Performance

Noah stock opened at $8.88 on Friday. The company has a market capitalization of $598.82 million, a P/E ratio of 8.22 and a beta of 0.80. Noah has a fifty-two week low of $8.63 and a fifty-two week high of $12.84. The stock has a 50-day simple moving average of $10.08 and a 200-day simple moving average of $10.72.

Institutional Investors Weigh In On Noah

Several large investors have recently modified their holdings of NOAH. Ramsey Quantitative Systems acquired a new stake in shares of Noah during the second quarter worth $105,000. Renaissance Technologies LLC grew its position in Noah by 132.4% in the 1st quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager’s stock valued at $945,000 after buying an additional 54,400 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Noah by 9.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager’s stock valued at $4,641,000 after buying an additional 40,332 shares during the period. IMC Chicago LLC acquired a new position in Noah in the 1st quarter valued at $100,000. Finally, Kestra Private Wealth Services LLC purchased a new position in Noah during the 1st quarter worth $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.