Atour Lifestyle (NASDAQ:ATAT) Shares Up 3.3% – Should You Buy?

Atour Lifestyle Holdings Limited (NASDAQ:ATAT)’s share price shot up 3.3% on Tuesday . The stock traded as high as $28.00 and last traded at $27.86. 350,003 shares were traded during trading, a decline of 64% from the average session volume of 985,636 shares. The stock had previously closed at $26.97.

Analysts Set New Price Targets

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

Atour Lifestyle Trading Up 0.4 %

The firm has a market capitalization of $3.77 billion, a P/E ratio of 23.65, a P/E/G ratio of 0.65 and a beta of 0.52. The company has a 50 day moving average of $26.58 and a 200-day moving average of $21.74.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. First Beijing Investment Ltd grew its position in Atour Lifestyle by 175.0% during the third quarter. First Beijing Investment Ltd now owns 5,639,562 shares of the company’s stock worth $146,290,000 after buying an additional 3,588,469 shares in the last quarter. M&G PLC grew its holdings in shares of Atour Lifestyle by 173.2% during the 3rd quarter. M&G PLC now owns 3,518,106 shares of the company’s stock worth $91,471,000 after purchasing an additional 2,230,247 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Atour Lifestyle by 174.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,116,600 shares of the company’s stock worth $28,965,000 after purchasing an additional 709,700 shares during the period. FMR LLC raised its stake in Atour Lifestyle by 352.7% in the third quarter. FMR LLC now owns 889,942 shares of the company’s stock valued at $23,085,000 after purchasing an additional 693,342 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Atour Lifestyle by 126.7% during the second 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. 17.79% of the stock is owned by institutional investors.

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.