Noah (NOAH) Stock Price Up 5.5%
Noah Holdings Ltd. (NYSE:NOAH)’s share price rose 5.5% during trading on Wednesday . The stock traded as high as $42.77 and last traded at $42.76. Approximately 779,874 shares traded hands during mid-day trading, an increase of 259% from the average daily volume of 217,178 shares. The stock had previously closed at $40.53.
NOAH has been the subject of several research reports. BidaskClub downgraded Noah from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 23rd. Zacks Investment Research upgraded Noah from a “sell” rating to a “hold” rating in a research report on Thursday, August 31st.
The firm has a market capitalization of $2,253.40, a PE ratio of 22.14 and a beta of 2.58.
Several institutional investors and hedge funds have recently modified their holdings of NOAH. Russell Investments Group Ltd. bought a new position in shares of Noah during the second quarter worth about $158,000. Aperio Group LLC bought a new position in shares of Noah during the second quarter worth about $239,000. Airain ltd bought a new position in shares of Noah during the second quarter worth about $245,000. APG Asset Management N.V. bought a new position in shares of Noah during the third quarter worth about $249,000. Finally, Pictet Asset Management Ltd. bought a new position in shares of Noah during the third quarter worth about $324,000. Institutional investors own 46.91% of the company’s stock.
Noah Holdings Limited is a wealth management service provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China. The Company operates through three segments: wealth management, asset management and Internet finance. It also provides Internet finance services to clients in China.
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