Allegheny Technologies Incorporated (ATI) has risen sharply, recording gains of 9.6% in the past 4 weeks. However, the stock has corrected -0.7% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 8.48% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 3.05% and the 50-Day Moving Average is 16.6%. Allegheny Technologies Incorporated (NYSE:ATI): On Fridays trading session , Opening price of the stock was $17.51 with an intraday high of $17.65. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $17.0099. However, the stock managed to close at $17.13, a loss of 2.56% for the day. On the previous day, the stock had closed at $17.58. The total traded volume of the day was 1,739,641 shares.
The company Insiders own 1.45% of Allegheny Technologies Incorporated shares according to the proxy statements. Institutional Investors own 83.45% of Allegheny Technologies Incorporated shares. Also, Equity Analysts at the Bank of America upgrades the rating on Allegheny Technologies Incorporated (NYSE:ATI). The brokerage firm has issued a Buy rating on the shares. The shares were previously rated Underperform. The rating by the firm was issued on May 23, 2016.
Allegheny Technologies Incorporated is a specialty materials and components producer. The Companys standard products include specialty stainless sheet, stainless steel sheet and stainless steel plate. It operates through two business segments: High Performance Materials & Components and Flat Rolled Products. Its High Performance Materials & Components segment produces, converts and distributes high performance materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys. Its Flat Rolled Products segment produces, converts and distributes stainless steel, nickel-based alloys, specialty alloys, and titanium and titanium-based alloys.