Noah (NYSE:NOAH) Sees Large Volume Increase

Noah Holdings Limited (NYSE:NOAH) shares saw strong trading volume on Thursday . 709,240 shares traded hands during trading, an increase of 92% from the previous session’s volume of 368,930 shares.The stock last traded at $31.55 and had previously closed at $29.94.

A number of analysts have recently weighed in on the company. ValuEngine upgraded Noah from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Citigroup upgraded Noah from a “neutral” rating to a “buy” rating in a research report on Monday, September 16th. Finally, Zacks Investment Research cut Noah from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $53.09.

The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 16.26 and a beta of 1.82. The firm has a 50-day moving average of $29.98 and a 200 day moving average of $32.57.

Noah (NYSE:NOAH) last posted its earnings results on Monday, November 11th. The asset manager reported $0.80 EPS for the quarter. Noah had a return on equity of 15.46% and a net margin of 25.82%. The firm had revenue of $117.80 million for the quarter. On average, analysts anticipate that Noah Holdings Limited will post 2.29 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of NOAH. Marshall Wace LLP acquired a new stake in Noah in the 1st quarter valued at approximately $49,000. Quantamental Technologies LLC acquired a new position in shares of Noah during the 2nd quarter valued at $52,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Noah during the 2nd quarter valued at $55,000. Tower Research Capital LLC TRC increased its position in shares of Noah by 5,369.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,227 shares of the asset manager’s stock valued at $94,000 after purchasing an additional 3,168 shares during the period. Finally, Guinness Asset Management Ltd increased its position in shares of Noah by 35.6% during the 3rd quarter. Guinness Asset Management Ltd now owns 3,810 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 52.03% of the company’s stock.

Noah Company Profile (NYSE:NOAH)

Noah Holdings Limited, through its subsidiaries, operates as a wealth and asset management service provider with focus on wealth investment and asset allocation services for high net worth individuals and enterprises in the People's Republic of China. The company operates through three segments: Wealth Management, Asset Management, and Other Financial Service.

Further Reading: Margin

Receive News & Ratings for Noah Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noah and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit