Taking a look at what insiders are doing to gauge the ATI Inc [ATI]’s direction

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Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. ATI Inc shares valued at $2,227,641 were sold by Davis Elliot S on Feb 29 ’24. At $49.12 per share, Davis Elliot S sold 45,351 shares. The insider’s holdings dropped to 123,927 shares worth approximately $6.07 million following the completion of this transaction.

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Also, Harris Timothy J sold 6,325 shares, netting a total of over 264,891 in proceeds. Following the sale of shares at $41.88 each, the insider now holds 103,006 shares.

Before that, Harris Timothy J had sold 6,325 shares from its account. In a trade valued at $268,433, the Senior VP and CDIO traded ATI Inc shares for $42.44 each. Upon closing the transaction, the insider’s holdings decreased to 6,325 shares, worth approximately $5.36 million.

As published in their initiating research note from Northcoast on July 20, 2023, ATI Inc [ATI] has been a Buy and the price target has been revised to $54. Analysts at Wolfe Research upgraded the stock from ‘”a Peer perform”‘ to ‘”an Outperform”‘ outlook in a report released in early August. As of January 11, 2022, Cowen has increased its “Market perform” rating to a “an Outperform” for ATI. Earlier on January 07, 2022, Berenberg upgraded its rating. Their new recommendation was “a Buy” for ATI stock which previously was a “a Hold”.

Analyzing ATI Stock Performance

During the last five days, there has been a drop of approximately -1.31%. Over the course of the year, ATI Inc shares have jumped approximately 7.76%. Shares of the company reached a 52-week high of $51.95 on 03/08/24 and a 52-week low of $38.04 on 02/01/24. A 50-day SMA is recorded $44.31, while a 200-day SMA reached $42.87. Nevertheless, trading volume fell to 1.84 million shares from 2.02 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 48.05, which, if violated, would cause prices to drop to 47.10. In the upper region, resistance lies at 49.95. The next price resistance is at 50.91. RSI (Relative Strength Index) is 59.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.19, which suggests the price will decrease in the coming days. Percent R is at 47.66%, indicating low price movement. Stochastics %K at holding 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 Feb 29, 2024 jumping by 1.42 million shares to 6.66 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 5.24 million shares. A jump of 21.32% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.81 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.81.

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