Atour Lifestyle (NASDAQ:ATAT) Sees Unusually-High Trading Volume – Time to Buy?

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) saw strong trading volume on Tuesday . 768,324 shares changed 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.

Wall Street Analysts Forecast Growth

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

Atour Lifestyle Trading Up 3.6 %

The firm has a 50-day moving average of $26.67 and a 200-day moving average of $22.11. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 25.08, a P/E/G ratio of 0.65 and a beta of 0.52.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of Atour Lifestyle during the 2nd quarter worth about $7,940,000. Prudential PLC purchased a new stake in Atour Lifestyle in the 2nd quarter valued at about $13,161,000. Van Berkom & Associates Inc. acquired a new stake in Atour Lifestyle in the 2nd quarter valued at approximately $492,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Atour Lifestyle in the 2nd quarter valued at $4,406,000. Finally, Renaissance Technologies LLC lifted its position in shares of 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 in the last quarter. Institutional investors and hedge funds 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.