Atour Lifestyle (NASDAQ:ATAT) Shares Down 4.7% – Should You Sell?

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) fell 4.7% during trading on Wednesday . The stock traded as low as $26.28 and last traded at $26.31. 363,697 shares traded hands during trading, a decline of 51% from the average session volume of 742,156 shares. The stock had previously closed at $27.60.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group began coverage on shares of Atour Lifestyle in a research note on Monday, December 9th. They issued a “buy” rating and a $34.40 target price on the stock.

Atour Lifestyle Stock Up 2.1 %

The firm has a market cap of $3.78 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 0.52 and a beta of 0.45. The business has a 50 day simple moving average of $26.81 and a two-hundred day simple moving average of $23.87.

Institutional Trading of Atour Lifestyle

Institutional investors and hedge funds have recently modified their holdings of the stock. Loomis Sayles & Co. L P bought a new stake in Atour Lifestyle during the 3rd quarter valued at $34,000. Public Employees Retirement System of Ohio purchased a new position in shares of Atour Lifestyle during the third quarter valued at $143,000. Cornerstone Investment Partners LLC bought a new stake in shares of Atour Lifestyle in the fourth quarter valued at about $213,000. Y Intercept Hong Kong Ltd purchased a new stake in Atour Lifestyle in the third quarter worth about $430,000. Finally, HighTower Advisors LLC bought a new position in Atour Lifestyle during the 4th quarter worth about $512,000. Institutional investors own 17.79% of the company’s stock.

About Atour Lifestyle

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.