Atour Lifestyle (NASDAQ:ATAT) Shares Up 5.6% – Time to Buy?

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) shares shot up 5.6% on Tuesday . The company traded as high as $28.99 and last traded at $29.47. 496,610 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 768,303 shares. The stock had previously closed at $27.90.

Wall Street Analysts Forecast Growth

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

Atour Lifestyle Trading Up 4.4 %

The stock’s fifty day simple moving average is $26.91 and its 200-day simple moving average is $24.11. The stock has a market capitalization of $4.01 billion, a PE ratio of 25.10, a P/E/G ratio of 0.51 and a beta of 0.45.

Institutional Investors Weigh In On Atour Lifestyle

Institutional investors have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P purchased a new position in shares of Atour Lifestyle in the 3rd quarter worth about $34,000. Public Employees Retirement System of Ohio bought a new stake in Atour Lifestyle in the third quarter worth about $143,000. Cornerstone Investment Partners LLC purchased a new position in Atour Lifestyle in the fourth quarter valued at about $213,000. Y Intercept Hong Kong Ltd bought a new position in shares of Atour Lifestyle during the 3rd quarter valued at approximately $430,000. Finally, Trivest Advisors Ltd purchased a new stake in shares of Atour Lifestyle during the 4th quarter worth approximately $457,000. 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.