Atotech Limited (NYSE:ATC) Sees Significant Increase in Short Interest

Atotech Limited (NYSE:ATCGet Rating) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 3,620,000 shares, a growth of 199.2% from the March 31st total of 1,210,000 shares. Based on an average trading volume of 1,440,000 shares, the days-to-cover ratio is presently 2.5 days. Approximately 9.8% of the shares of the stock are sold short.

Separately, Zacks Investment Research raised Atotech from a “sell” rating to a “hold” rating in a research note on Tuesday, February 1st. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, Atotech currently has an average rating of “Hold” and an average price target of $25.83.

Shares of Atotech stock traded down $0.21 during trading hours on Friday, hitting $21.30. 445,313 shares of the company’s stock traded hands, compared to its average volume of 1,257,206. The company has a fifty day simple moving average of $22.39 and a 200-day simple moving average of $23.88. Atotech has a 12-month low of $20.85 and a 12-month high of $26.67. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of -141.99 and a beta of 0.25. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.72 and a quick ratio of 1.38.

Atotech (NYSE:ATCGet Rating) last posted its earnings results on Monday, April 4th. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.06). The company had revenue of $386.50 million for the quarter, compared to analysts’ expectations of $379.82 million. Atotech had a net margin of 0.51% and a return on equity of 4.67%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.12) EPS. On average, analysts forecast that Atotech will post 0.98 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in ATC. Alliancebernstein L.P. purchased a new position in shares of Atotech during the third quarter valued at approximately $18,084,000. Glazer Capital LLC bought a new position in shares of Atotech during the third quarter valued at $16,147,000. Mint Tower Capital Management B.V. lifted its holdings in shares of Atotech by 521.5% during the third quarter. Mint Tower Capital Management B.V. now owns 46,610 shares of the company’s stock valued at $1,126,000 after purchasing an additional 39,110 shares in the last quarter. Jump Financial LLC bought a new position in shares of Atotech during the third quarter valued at $871,000. Finally, Morgan Stanley increased its position in shares of Atotech by 1,725.7% during the 3rd quarter. Morgan Stanley now owns 675,150 shares of the company’s stock valued at $16,306,000 after purchasing an additional 638,169 shares during the last quarter. Institutional investors own 95.41% of the company’s stock.

About Atotech (Get Rating)

Atotech Limited, a chemicals technology company, provides specialty electroplating and surface finishing solutions worldwide. The company operates through two segments, Electronics (EL) and General Metal Finishing (GMF). The EL segment manufactures and supplies chemistry, production equipment, software, and services to the electronics industry, which include printed circuit board manufacturers, package substrate makers, and semiconductor companies.

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