Atour Lifestyle (NASDAQ:ATAT) Shares Gap Down – What’s Next?

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 changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ATAT. Bank of America lifted their price objective on shares of Atour Lifestyle from $35.30 to $36.80 and gave the company a “buy” rating in a report on Friday, March 14th. UBS Group set a $37.30 price objective on shares of Atour Lifestyle and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group began coverage on shares of Atour Lifestyle in a report on Monday, December 9th. They set a “buy” rating and a $34.40 price objective for the company.

Atour Lifestyle Trading Up 0.2 %

The firm has a market cap of $4.17 billion, a PE ratio of 26.10, a P/E/G ratio of 0.59 and a beta of 0.37. The business’s 50-day simple moving average is $28.81 and its 200 day simple moving average is $26.69.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its position in Atour Lifestyle by 352.7% during the 3rd 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 during the period. Wellington Management Group LLP purchased a new position in shares of Atour Lifestyle in the 3rd quarter worth approximately $1,251,000. Sanctuary Advisors LLC purchased a new position in shares of Atour Lifestyle in the 4th quarter worth approximately $1,344,000. XTX Topco Ltd grew its position in shares of Atour Lifestyle by 119.5% in the 3rd quarter. XTX Topco Ltd now owns 46,638 shares of the company’s stock worth $1,210,000 after buying an additional 25,390 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Atour Lifestyle in the 3rd quarter worth approximately $2,741,000. Hedge funds and other 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.