Short Interest in Atour Lifestyle Holdings Limited (NASDAQ:ATAT) Drops By 20.1%

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) saw a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 2,310,000 shares, a decrease of 20.1% from the November 15th total of 2,890,000 shares. Based on an average daily 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 sold short.

Atour Lifestyle Trading Down 3.5 %

ATAT traded down $0.97 during trading on Friday, hitting $27.01. 1,743,203 shares of the company’s stock were exchanged, compared to its average volume of 989,943. The stock has a 50 day moving average price of $26.63 and a 200 day moving average price of $21.54. Atour Lifestyle has a 1 year low of $15.22 and a 1 year high of $29.90. The firm has a market cap of $3.72 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 0.65 and a beta of 0.52.

Hedge Funds Weigh In On Atour Lifestyle

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Beijing Investment Ltd raised its holdings in shares of Atour Lifestyle by 175.0% in the 3rd quarter. First Beijing Investment Ltd now owns 5,639,562 shares of the company’s stock worth $146,290,000 after purchasing an additional 3,588,469 shares in the last quarter. M&G PLC increased its holdings in shares of Atour Lifestyle by 173.2% during the 3rd quarter. M&G PLC now owns 3,518,106 shares of the company’s stock valued at $91,471,000 after acquiring an additional 2,230,247 shares during the last quarter. Prudential PLC acquired a new position in Atour Lifestyle in the 2nd quarter valued at $13,161,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Atour Lifestyle by 174.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,116,600 shares of the company’s stock worth $28,965,000 after purchasing an additional 709,700 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Atour Lifestyle by 352.7% during the 3rd quarter. FMR LLC now owns 889,942 shares of the company’s stock worth $23,085,000 after purchasing an additional 693,342 shares during the period. Institutional investors and hedge funds own 17.79% of the company’s stock.

Analyst Upgrades and Downgrades

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