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

ATI Inc. (NYSE:ATI) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 2,230,362 shares, a decline of 28.7% from the December 15th total of 3,130,130 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average daily volume of 1,180,024 shares, the short-interest ratio is presently 1.9 days. Based on an average daily volume of 1,180,024 shares, the short-interest ratio is presently 1.9 days. Approximately 1.7% of the shares of the company are sold short.

ATI Price Performance

Shares of ATI stock traded down $1.08 during mid-day trading on Monday, reaching $124.31. The stock had a trading volume of 1,163,511 shares, compared to its average volume of 1,042,126. ATI has a 12-month low of $39.23 and a 12-month high of $127.11. The company has a market cap of $16.89 billion, a P/E ratio of 40.23, a price-to-earnings-growth ratio of 1.19 and a beta of 1.02. The business has a 50-day simple moving average of $109.19 and a 200 day simple moving average of $92.47. The company has a current ratio of 2.50, a quick ratio of 1.18 and a debt-to-equity ratio of 0.94.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.75 by $0.10. ATI had a net margin of 9.71% and a return on equity of 23.34%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. ATI has set its FY 2025 guidance at 3.150-3.21 EPS and its Q4 2025 guidance at 0.840-0.90 EPS. On average, sell-side analysts anticipate that ATI will post 2.89 earnings per share for the current year.

Insider Transactions at ATI

In related news, Chairman Robert S. Wetherbee sold 53,862 shares of the stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $109.48, for a total transaction of $5,896,811.76. Following the completion of the sale, the chairman directly owned 132,676 shares of the company’s stock, valued at $14,525,368.48. This trade represents a 28.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Timothy J. Harris sold 10,542 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $97.88, for a total transaction of $1,031,850.96. Following the transaction, the vice president owned 98,310 shares of the company’s stock, valued at approximately $9,622,582.80. The trade was a 9.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 158,630 shares of company stock worth $16,144,855 over the last 90 days. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ATI

Large investors have recently bought and sold shares of the stock. Lido Advisors LLC raised its holdings in shares of ATI by 2.7% in the third quarter. Lido Advisors LLC now owns 3,784 shares of the basic materials company’s stock worth $308,000 after acquiring an additional 101 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in ATI by 2.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,424 shares of the basic materials company’s stock valued at $360,000 after purchasing an additional 102 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in ATI by 12.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,090 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 118 shares during the last quarter. Fifth Third Bancorp lifted its holdings in ATI by 11.4% in the 2nd quarter. Fifth Third Bancorp now owns 1,252 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 128 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of ATI by 10.9% during the second quarter. Farther Finance Advisors LLC now owns 1,459 shares of the basic materials company’s stock worth $126,000 after buying an additional 143 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Susquehanna reaffirmed a “positive” rating and issued a $145.00 price objective on shares of ATI in a report on Thursday. Deutsche Bank Aktiengesellschaft set a $98.00 price target on ATI in a research note on Wednesday, October 8th. KeyCorp upped their price objective on ATI from $120.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Alembic Global Advisors assumed coverage on ATI in a report on Thursday. They issued an “overweight” rating and a $141.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of ATI from $118.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, ATI currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.75.

About ATI

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.