Atour Lifestyle Holdings Limited (NASDAQ:ATAT) Sees Significant Decrease in Short Interest

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 2,310,000 shares, a drop of 20.1% from the November 15th total of 2,890,000 shares. Based on an average trading volume of 1,390,000 shares, the days-to-cover ratio is presently 1.7 days. Approximately 2.1% of the shares of the stock are short sold.

Atour Lifestyle Stock Down 3.5 %

Shares of ATAT traded down $0.97 during trading hours on Friday, reaching $27.01. The company’s stock had a trading volume of 1,743,203 shares, compared to its average volume of 989,943. Atour Lifestyle has a 1-year low of $15.22 and a 1-year high of $29.90. The company has a 50 day moving average of $26.63 and a two-hundred day moving average of $21.51. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 0.65 and a beta of 0.52.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ATAT. Loomis Sayles & Co. L P acquired a new stake in shares of Atour Lifestyle in the third quarter worth about $34,000. Public Employees Retirement System of Ohio acquired a new position in Atour Lifestyle during the third quarter valued at approximately $143,000. XTX Topco Ltd acquired a new stake in shares of Atour Lifestyle in the second quarter worth $390,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Atour Lifestyle in the third quarter worth $430,000. Finally, Van Berkom & Associates Inc. acquired a new position in Atour Lifestyle in the 2nd quarter valued at $492,000. Institutional investors and hedge funds own 17.79% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.