Alcoa Corporation [AA] Revenue clocked in at $12.57 billion, up 5.98% YTD: What’s Next?


Alcoa Corporation [NYSE: AA] traded at a high on 05/23/22, posting a 4.24 gain after which it closed the day’ session at $63.14. The company report on May 19, 2022 that Alcoa Announces Long-Term Contract for Renewable Power to Support 2024 Restart of San Ciprián Aluminum Smelter.

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Alcoa Corporation (NYSE: AA) today announced the signing of a contract for renewable energy to support the planned restart in 2024 of aluminum smelting at the San Ciprián smelter in Spain.

The long-term power purchase agreement is with Greenalia, an independent renewable energy developer and producer. Subject to windfarm permitting processes, the agreement would commence in 2024 and extend to the end of 2033.

The results of the trading session contributed to over 6195449 shares changing hands. Over the past one week, the price volatility of Alcoa Corporation stands at 6.72% while the volatility over the past one month is 6.51%.

The market cap for AA stock reached $11.93 billion, with 184.00 million shares outstanding and 182.85 million shares in the current float. Compared to the average trading volume of 7.90M shares, AA reached a trading volume of 6195449 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $89.95 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 2.20. 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 Neutral, with their previous recommendation back on April 21, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price from $68 to $82. The new note on the price target was released on April 08, 2022, representing the official price target for Alcoa Corporation stock. Previously, the target price had yet another raise from $78 to $100, while Morgan Stanley kept a Equal-Weight rating on AA stock. On January 11, 2022, analysts increased their price target for AA shares from 60 to 65.

The Average True Range (ATR) for Alcoa Corporation is set at 4.62, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.95. The Price to Book ratio for the last quarter was 2.54, with the Price to Cash per share for the same quarter was set at 8.22. Price to Free Cash Flow for AA in the course of the last twelve months was 22.05 with Quick ratio for the last quarter at 0.90.

How has AA stock performed recently?

Alcoa Corporation [AA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.74. With this latest performance, AA shares dropped by -6.28% in over the last four-week period, additionally plugging by 32.65% over the last 6 months – not to mention a rise of 72.99% 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 45.35, with the RSI for the last a single of trading hit 50.11, and the three-weeks RSI is set at 44.16 for Alcoa Corporation [AA]. The present Moving Average for the last 50 days of trading for this stock 75.98, while it was recorded at 61.93 for the last single week of trading, and 60.16 for the last 200 days.

Alcoa Corporation [AA]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Alcoa Corporation [AA] shares currently have an operating margin of +19.01 and a Gross Margin at +21.08. Alcoa Corporation’s Net Margin is presently recorded at +3.45.

Return on Equity for this stock inclined to 10.75, with Return on Assets sitting at 2.87.

Alcoa Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.60.

Insider trade positions for Alcoa Corporation [AA]

There are presently around $9,357 million, or 85.10% of AA stock, in the hands of institutional investors. The top three institutional holders of AA stocks are: BLACKROCK INC. with ownership of 20,084,162, which is approximately 13.511% of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 18,087,600 shares of the stock with an approximate value of $1.1 billion in AA stocks shares; and FMR LLC, currently with $555.53 million in AA stock with ownership of nearly 563.569% of the company’s market capitalization.

Positions in Alcoa Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 304 institutional holders increased their position in Alcoa Corporation [NYSE:AA] by around 36,406,697 shares. Additionally, 294 investors decreased positions by around 33,039,920 shares, while 79 investors held positions by with 85,038,916 shares. The mentioned changes placed institutional holdings at 154,485,533 shares, according to the latest SEC report filing. AA stock had 166 new institutional investments in for a total of 16,631,243 shares, while 87 institutional investors sold positions of 5,526,463 shares during the same period.