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

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) shares gapped down before the market opened on Thursday . The stock had previously closed at $30.91, but opened at $29.59. Atour Lifestyle shares last traded at $30.42, with a volume of 104,528 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group started 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. UBS Group set a $37.30 price objective on Atour Lifestyle and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Bank of America upped their target price on Atour Lifestyle from $35.30 to $36.80 and gave the stock a “buy” rating in a research report on Friday, March 14th.

Atour Lifestyle Stock Performance

The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 0.59 and a beta of 0.37. The stock’s fifty day moving average is $28.62 and its two-hundred day moving average is $26.59.

Institutional Trading of Atour Lifestyle

Several large investors have recently modified their holdings of ATAT. Loomis Sayles & Co. L P purchased a new position in Atour Lifestyle in the third quarter valued at about $34,000. Public Employees Retirement System of Ohio purchased a new position in shares of Atour Lifestyle during the 3rd quarter valued at approximately $143,000. Pictet Asset Management Holding SA purchased a new position in shares of Atour Lifestyle during the 4th quarter valued at approximately $155,000. AdvisorShares Investments LLC acquired a new stake in shares of Atour Lifestyle during the fourth quarter worth approximately $188,000. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Atour Lifestyle in the fourth quarter worth $213,000. 17.79% of the stock is currently owned by institutional investors and hedge funds.

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.