ATI Inc. (NYSE:ATI) Short Interest Up 14.3% in January

ATI Inc. (NYSE:ATI) was the target of a large increase in short interest in 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 trading volume of 1,480,000 shares, the days-to-cover ratio is currently 2.3 days.

ATI Stock Down 1.1 %

Shares of NYSE:ATI opened at $57.16 on Monday. ATI has a 52-week low of $38.04 and a 52-week high of $68.92. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. The business has a fifty day moving average of $57.01 and a two-hundred day moving average of $60.14. The stock has a market cap of $8.15 billion, a P/E ratio of 21.99, a PEG ratio of 1.60 and a beta of 1.12.

Insider Transactions at ATI

In related news, SVP Tina Killough Busch sold 2,598 shares of ATI stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total value of $155,931.96. Following the sale, the senior vice president now owns 21,553 shares of the company’s stock, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction on 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 transaction, the chairman now owns 436,443 shares of the company’s stock, valued at $25,745,772.57. This represents a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ATI

Several hedge funds and other institutional investors have recently bought and sold shares of ATI. Mountaineer Partners Management LLC grew its stake in shares of ATI by 4,401.2% in the 3rd quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock valued at $629,683,000 after buying an additional 9,201,818 shares during the period. Forest Avenue Capital Management LP acquired a new stake in ATI during the third quarter worth $28,700,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in ATI by 177.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 451,982 shares of the basic materials company’s stock valued at $30,242,000 after purchasing an additional 289,229 shares during the period. Holocene Advisors LP acquired a new position in shares of ATI in the 3rd quarter valued at $18,928,000. Finally, Artemis Investment Management LLP purchased a new position in shares of ATI during the 4th quarter worth $8,103,000.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. StockNews.com downgraded ATI from a “hold” rating to a “sell” rating in a research note on Wednesday, January 29th. Finally, Susquehanna decreased their price objective on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, ATI currently has an average rating of “Hold” and an average target price of $73.71.

About ATI

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.