Noah (NYSE:NOAH) Sees Large Volume Increase – Still a Buy?

Shares of Noah Holdings Ltd. (NYSE:NOAH) saw unusually-strong trading volume on Tuesday . Approximately 228,461 shares traded hands during trading, an increase of 81% from the previous session’s volume of 126,447 shares.The stock last traded at $11.45 and had previously closed at $11.49.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NOAH. JPMorgan Chase & Co. cut shares of Noah from an “overweight” rating to a “neutral” rating and set a $12.00 target price for the company. in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Noah in a report on Monday, December 29th. UBS Group reduced their price objective on Noah from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, December 22nd. Zacks Research upgraded Noah from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Wall Street Zen lowered Noah from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Noah Stock Down 10.7%

The firm has a market cap of $678.08 million, a price-to-earnings ratio of 9.24 and a beta of 0.73. The business’s fifty day moving average is $11.66 and its two-hundred day moving average is $11.23.

Institutional Investors Weigh In On Noah

Several hedge funds and other institutional investors have recently made changes to their positions in NOAH. Federation des caisses Desjardins du Quebec acquired a new position in shares of Noah during the fourth quarter valued at $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Noah in the third quarter worth about $84,000. Quadrant Capital Group LLC bought a new stake in Noah during the 3rd quarter worth about $85,000. New York State Common Retirement Fund acquired a new position in Noah during the 3rd quarter valued at about $105,000. Finally, Virtu Financial LLC acquired a new position in Noah during the 4th quarter valued at about $115,000. 42.67% of the stock is owned by institutional investors and hedge funds.

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.