Short Interest in ATI Inc. (NYSE:ATI) Declines By 6.0% - MarketBeat

2023-01-09 21:57:51 By : Ms. Aileen Luo

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ATI Inc. (NYSE:ATI - Get Rating) was the target of a significant drop in short interest in December. As of December 15th, there was short interest totalling 11,960,000 shares, a drop of 6.0% from the November 30th total of 12,730,000 shares. Based on an average trading volume of 1,180,000 shares, the short-interest ratio is presently 10.1 days. ATI Stock Down 1.0 % S31803 Tubes

Short Interest in ATI Inc. (NYSE:ATI) Declines By 6.0% - MarketBeat

ATI opened at $29.56 on Wednesday. The business's 50-day simple moving average is $29.61 and its 200-day simple moving average is $28.18. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.40 and a current ratio of 2.88. ATI has a one year low of $16.45 and a one year high of $33.31. The stock has a market capitalization of $3.83 billion, a P/E ratio of 268.75 and a beta of 1.21.

ATI (NYSE:ATI - Get Rating) last posted its earnings results on Wednesday, November 2nd. The basic materials company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.01. ATI had a return on equity of 28.25% and a net margin of 0.67%. The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $936.80 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The business's revenue was up 42.2% compared to the same quarter last year. Analysts anticipate that ATI will post 1.99 EPS for the current year. Analysts Set New Price Targets

A number of analysts have weighed in on the company. KeyCorp raised their price target on ATI from $33.00 to $36.00 and gave the company an "overweight" rating in a research note on Monday, December 5th. StockNews.com upgraded ATI from a "sell" rating to a "hold" rating in a research note on Monday, October 24th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, ATI currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.57.Insider Activity

In other news, CEO Robert S. Wetherbee sold 15,000 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $30.23, for a total value of $453,450.00. Following the sale, the chief executive officer now directly owns 333,753 shares in the company, valued at $10,089,353.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Elliot S. Davis sold 28,572 shares of the stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $30.68, for a total value of $876,588.96. Following the sale, the insider now directly owns 160,350 shares in the company, valued at $4,919,538. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert S. Wetherbee sold 15,000 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $30.23, for a total value of $453,450.00. Following the completion of the sale, the chief executive officer now owns 333,753 shares in the company, valued at $10,089,353.19. The disclosure for this sale can be found here. Insiders own 0.82% of the company's stock. Hedge Funds Weigh In On ATI

A number of hedge funds and other institutional investors have recently made changes to their positions in ATI. Gamble Jones Investment Counsel purchased a new position in shares of ATI during the third quarter worth about $84,000. Convergence Investment Partners LLC purchased a new position in shares of ATI during the third quarter worth about $103,000. Canada Pension Plan Investment Board purchased a new position in shares of ATI during the third quarter worth about $114,000. Quadrant Capital Group LLC grew its holdings in shares of ATI by 1,116.5% during the third quarter. Quadrant Capital Group LLC now owns 4,416 shares of the basic materials company's stock worth $118,000 after buying an additional 4,053 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of ATI by 185.5% during the first quarter. Captrust Financial Advisors now owns 5,962 shares of the basic materials company's stock worth $160,000 after buying an additional 3,874 shares during the last quarter. ATI Company Profile (Get Rating)

ATI Inc manufactures and sells specialty materials and components worldwide. The company 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, 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.Featured ArticlesGet a free copy of the StockNews.com research report on ATI (ATI)What's the Outlook for META Stock in 2023?Is First Solar Stock is Flying Too Close to the Sun? Can Investors Cash In On PayPal?These 3 Tech Stocks Are in for a Happier New YearTyson Foods: Growth and Momentum at a Reasonable Price

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Short Interest in ATI Inc. (NYSE:ATI) Declines By 6.0% - MarketBeat

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