Atour Lifestyle (NASDAQ:ATAT) Sees Large Volume Increase – Time to Buy?

Shares of Atour Lifestyle Holdings Limited (NASDAQ:ATAT) saw unusually-high trading volume on Tuesday . Approximately 768,324 shares changed hands during mid-day trading, a decline of 22% from the previous session’s volume of 989,646 shares.The stock last traded at $29.39 and had previously closed at $28.09.

Analyst Ratings Changes

Separately, The Goldman Sachs Group initiated coverage on Atour Lifestyle in a research report on Monday, December 9th. They set a “buy” rating and a $34.40 target price on the stock.

Atour Lifestyle Stock Performance

The company’s 50 day simple moving average is $26.58 and its 200 day simple moving average is $21.98. The stock has a market cap of $4.00 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 0.65 and a beta of 0.52.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new position in shares of Atour Lifestyle in the 2nd quarter worth about $7,940,000. Prudential PLC bought a new position in shares of Atour Lifestyle during the 2nd quarter valued at approximately $13,161,000. Van Berkom & Associates Inc. purchased a new stake in shares of Atour Lifestyle during the 2nd quarter worth approximately $492,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Atour Lifestyle during the 2nd quarter worth approximately $4,406,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Atour Lifestyle by 126.7% in the 2nd quarter. Renaissance Technologies LLC now owns 783,400 shares of the company’s stock worth $14,375,000 after purchasing an additional 437,900 shares during the period. Hedge funds and other institutional investors own 17.79% of the company’s stock.

Atour Lifestyle Company Profile

Atour Lifestyle Holdings Limited, through its subsidiaries, develops lifestyle brands around hotel offerings in the People’s Republic of China. The company provides hotel management services, including day-to-day management services of the hotels for the franchisees; and sells hotel supplies and other products.