ATI Inc. (NYSE:ATI) Sees Significant Increase in Short Interest

ATI Inc. (NYSE:ATI) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 3,360,000 shares, an increase of 14.3% from the December 31st total of 2,940,000 shares. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is presently 2.3 days.

ATI Stock Down 1.1 %

Shares of NYSE ATI opened at $57.16 on Monday. The stock has a market cap of $8.15 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.60 and a beta of 1.12. ATI has a 52-week low of $38.04 and a 52-week high of $68.92. The business has a 50-day moving average price of $57.01 and a 200 day moving average price of $60.14. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97.

Insider Buying and Selling at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the completion of the transaction, the chairman now directly owns 436,443 shares in the company, valued at $25,745,772.57. This trade represents a 5.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Tina Killough Busch sold 2,598 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the sale, the senior vice president now owns 21,553 shares in the company, valued at $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.

Institutional Trading of ATI

A number of large investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC increased its position in ATI by 3.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock valued at $360,000 after acquiring an additional 172 shares during the period. CIBC Asset Management Inc increased its holdings in shares of ATI by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company’s stock valued at $215,000 after purchasing an additional 192 shares during the period. Hantz Financial Services Inc. raised its stake in shares of ATI by 2.1% during the fourth quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company’s stock worth $643,000 after purchasing an additional 240 shares during the last quarter. KBC Group NV lifted its holdings in shares of ATI by 12.9% during the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 385 shares during the period. Finally, Souders Financial Advisors grew its position in ATI by 6.1% in the 3rd quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company’s stock valued at $477,000 after buying an additional 411 shares during the last quarter.

Analysts Set New Price Targets

ATI has been the topic of a number of recent research reports. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Susquehanna reduced their price target on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded ATI from a “hold” rating to a “sell” rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, ATI has an average rating of “Hold” and a consensus target price of $73.71.

ATI Company Profile

ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.