Noah (NYSE:NOAH) Trading 4.5% Higher – Should You Buy?

Noah Holdings Limited (NYSE:NOAH) shot up 4.5% during trading on Tuesday . The stock traded as high as $9.08 and last traded at $9.09. 43,147 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 185,313 shares. The stock had previously closed at $8.70.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com cut Noah from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th. UBS Group restated a “neutral” rating and set a $11.50 price objective on shares of Noah in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. upgraded shares of Noah from a “neutral” rating to an “overweight” rating and set a $11.50 target price for the company in a research note on Wednesday, April 9th.

Noah Stock Down 0.7 %

The firm has a 50-day moving average of $10.41 and a 200 day moving average of $11.38. The stock has a market capitalization of $557.61 million, a P/E ratio of 7.22 and a beta of 0.78.

Noah (NYSE:NOAH) last released its quarterly earnings data on Tuesday, March 25th. The asset manager reported $0.26 EPS for the quarter. Noah had a net margin of 23.53% and a return on equity of 6.43%. The company had revenue of $89.31 million during the quarter, compared to the consensus estimate of $102.07 million. Analysts predict that Noah Holdings Limited will post 0.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Noah

Institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC acquired a new position in shares of Noah in the 1st quarter worth approximately $354,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Noah by 18.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager’s stock valued at $223,000 after acquiring an additional 2,930 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in shares of Noah in the 4th quarter valued at $454,000. Cubist Systematic Strategies LLC bought a new stake in shares of Noah in the 4th quarter worth about $52,000. Finally, Bank of America Corp DE grew its holdings in shares of Noah by 1,066.6% in the 4th quarter. Bank of America Corp DE now owns 83,902 shares of the asset manager’s stock worth $982,000 after purchasing an additional 76,710 shares during the last quarter. 42.67% of the stock is owned by institutional investors and hedge funds.

Noah Company Profile

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.