Atour Lifestyle (NASDAQ:ATAT) Sees Unusually-High Trading Volume – What’s Next?

Shares of Atour Lifestyle Holdings Limited (NASDAQ:ATAT) saw strong trading volume on Tuesday . 768,324 shares traded hands during 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 assumed coverage on shares of Atour Lifestyle in a report on Monday, December 9th. They set a “buy” rating and a $34.40 price objective 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 firm has a market capitalization of $4.00 billion, a PE ratio of 25.08, a PEG ratio of 0.65 and a beta of 0.52.

Institutional Trading of Atour Lifestyle

A number of large investors have recently modified their holdings of ATAT. 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. Jupiter Asset Management Ltd. purchased a new stake in shares of Atour Lifestyle during the 2nd quarter valued at $4,406,000. XTX Topco Ltd lifted its holdings in shares of Atour Lifestyle by 119.5% during the 3rd quarter. XTX Topco Ltd now owns 46,638 shares of the company’s stock worth $1,210,000 after acquiring an additional 25,390 shares during the last quarter. Wellington Management Group LLP purchased a new position in Atour Lifestyle in the third quarter worth $1,251,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Atour Lifestyle in the third quarter valued at $2,741,000. 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.