A company insider recently sold 9,627 shares of ATI Inc. [ATI]. Should You Sale?


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. ATI Inc. shares valued at $376,172 were sold by Davis Elliot S on Feb 08. At $39.07 per share, Davis Elliot S sold 9,627 shares. The insider’s holdings dropped to 151,642 shares worth approximately $6.32 million following the completion of this transaction.

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Also, Davis Elliot S sold 28,572 shares, netting a total of over 876,578 in proceeds. Following the sale of shares at $30.68 each, the insider now holds 160,350 shares.

Before that, WETHERBEE ROBERT S had sold 15,000 shares from its account. In a trade valued at $453,450, the Board Chair, President and CEO traded ATI Inc. shares for $30.23 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $13.92 million.

As published in a research note from Wolfe Research on August 05, 2022, ATI Inc. [ATI] has been rated up from a Peer perform to an Outperform and the price target has been revised to $33. This represents a -26.36% premium over Thursday’s closing price. Analysts at Cowen upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid January. As of January 07, 2022, Berenberg has increased its “Hold” rating to a “Buy” for ATI. Earlier on November 17, 2021, Wolfe Research initiated its rating. Their recommendation was “a Peer perform” for ATI stock.

Analyzing ATI Stock Performance

On Thursday, ATI Inc. [NYSE: ATI] plunged -0.17% to $41.70. The stock’s lowest price that day was $41.17, but it reached a high of $42.20 in the same session. During the last five days, there has been a surge of approximately 3.12%. Over the course of the year, ATI Inc. shares have jumped approximately 39.65%. Shares of the company reached a 52-week high of $42.20 on 03/02/23 and a 52-week low of $29.37 on 01/03/23. A 50-day SMA is recorded $35.87, while a 200-day SMA reached $29.77. Nevertheless, trading volume fell to 1.25 million shares from 1.5 million shares the previous day.

Support And Resistance Levels for ATI Inc. (ATI)

According to the 24-hour chart, there is a support level at 41.18, which, if violated, would cause prices to drop to 40.66. In the upper region, resistance lies at 42.21. The next price resistance is at 42.72. RSI (Relative Strength Index) is 68.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.01, which suggests the price will increase in the coming days. Percent R is at 11.63%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is ATI Inc. subject to short interest?

Stocks of ATI Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 0.87 million shares to 12.91 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 12.04 million shares. A jump of 6.74% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 9.56 of the overall float, the days-to-cover ratio (short ratio) jumped to 9.56.

Which companies own the most shares of ATI Inc. (ATI)?

According to BlackRock Fund Advisors filings, the company currently owns 19,312,166 shares, which is about 14.92% of the total ATI shares outstanding. The investor’s shares have appreciated by 814,197 from its previous 13-F filing of 18497969.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $514,673,413. Capital Research & Management Co acquire a 9.56% interest valued at $471.34 million while AllianceBernstein LP sold a -367,256 stake. A total of 244,924 shares of ATI Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 2,065,244 were bought by Frontier Capital Management Co. L. In its current portfolio, Columbia Management Investment Ad holds 3,350,560 shares valued at $121.93 million.

In terms of ATI Inc. share price expectations, FactSet research, analysts set an average price target of $43.86 in the next 12 months, up nearly 7.73% from the previous closing price of $41.77. Analysts anticipate ATI Inc. stock to reach $50.00 by 2023, with the lowest price target being $33.00. In spite of this, 8 analysts ranked ATI Inc. stock as a Buy at the end of 2023. On October 15, 2021, JP Morgan assigned a price target of “an Overweight” to the stock and upgraded coverage with a $23.


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