Alcoa Corporation [AA] is 75.84% higher this YTD. Is it still time to buy?

Alcoa Corporation [NYSE: AA] loss -0.44% or -0.18 points to close at $40.53 with a heavy trading volume of 5622460 shares. The company report on July 16, 2021 that Q2 2021 Financial Results: Alcoa Corporation Sets Record for Highest Quarterly Net Income and Earnings Per Share.

Alcoa Corporation (NYSE: AA) reported its highest ever quarterly net income and earnings per share, capturing the benefits of strong aluminum pricing with improved customer demand, stable operational performance, and additional cash generation through strategic actions.

Second Quarter Highlights.

It opened the trading session at $40.45, the shares rose to $41.49 and dropped to $39.90, the range by which the price of stock traded the whole day. The daily chart for AA points out that the company has recorded 85.92% gains over the past six months. However, it is still -269.13% lower than its most recent low trading price.

If we look at the average trading volume of 7.64M shares, AA reached to a volume of 5622460 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Alcoa Corporation [AA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AA shares is $42.55 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AA stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Alcoa Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 16, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price from $28 to $39. The new note on the price target was released on April 23, 2021, representing the official price target for Alcoa Corporation stock. Previously, the target price had yet another raise to $43, while Morgan Stanley analysts kept a Overweight rating on AA stock.

The Average True Range (ATR) for Alcoa Corporation is set at 1.85, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.69. The Price to Book ratio for the last quarter was 2.01, with the Price to Cash per share for the same quarter was set at 9.29.

Trading performance analysis for AA stock

Alcoa Corporation [AA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.87. With this latest performance, AA shares gained by 8.25% in over the last four-week period, additionally plugging by 85.92% over the last 6 months – not to mention a rise of 176.28% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AA stock in for the last two-week period is set at 60.21, with the RSI for the last a single of trading hit 62.96, and the three-weeks RSI is set at 58.11 for Alcoa Corporation [AA]. The present Moving Average for the last 50 days of trading for this stock 37.07, while it was recorded at 39.82 for the last single week of trading, and 28.84 for the last 200 days.

Alcoa Corporation [AA]: A deeper dive into fundamental analysis

Alcoa Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.60.

An analysis of insider ownership at Alcoa Corporation [AA]

There are presently around $5,928 million, or 82.10% of AA stock, in the hands of institutional investors. The top three institutional holders of AA stocks are: VANGUARD GROUP INC with ownership of 16,960,519, which is approximately 3.646% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 15,156,229 shares of the stock with an approximate value of $614.28 million in AA stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $341.37 million in AA stock with ownership of nearly 5.451% of the company’s market capitalization.

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188 institutional holders increased their position in Alcoa Corporation [NYSE:AA] by around 25,555,888 shares. Additionally, 154 investors decreased positions by around 21,421,996 shares, while 72 investors held positions by with 99,284,593 shares. The mentioned changes placed institutional holdings at 146,262,477 shares, according to the latest SEC report filing. AA stock had 90 new institutional investments in for a total of 6,966,291 shares, while 37 institutional investors sold positions of 4,354,304 shares during the same period.

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