Alcoa Corporation [AA] Stock trading around $48.90 per share: What’s Next?


Alcoa Corporation [NYSE: AA] price plunged by -2.36 percent to reach at -$1.18. The company report on June 15, 2022 that Alcoa Announces Investment to Boost Production at Mosjøen Smelter in Norway.

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Alcoa Corporation (NYSE: AA) today announced a $51 million project to increase the production capacity at its Mosjøen smelter in Norway by 14,000 metric tons per year (mtpy).

Alcoa’s Mosjøen location currently has a nameplate capacity of 200,000 mtpy, and the investment is expected to increase that capacity to 214,000 mtpy by the end of 2026.

A sum of 6415787 shares traded at recent session while its average daily volume was at 6.97M shares. Alcoa Corporation shares reached a high of $49.89 and dropped to a low of $47.47 until finishing in the latest session at $48.90.

The one-year AA stock forecast points to a potential upside of 45.3. The average equity rating for AA stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $89.40 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 3.49, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.72. The Price to Book ratio for the last quarter was 1.96, with the Price to Cash per share for the same quarter was set at 8.36. Price to Free Cash Flow for AA in the course of the last twelve months was 16.81 with Quick ratio for the last quarter at 0.90.

AA Stock Performance Analysis:

Alcoa Corporation [AA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.04. With this latest performance, AA shares dropped by -19.27% in over the last four-week period, additionally sinking by -7.93% over the last 6 months – not to mention a rise of 44.21% 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 33.53, with the RSI for the last a single of trading hit 30.58, and the three-weeks RSI is set at 35.81 for Alcoa Corporation [AA]. The present Moving Average for the last 50 days of trading for this stock 64.13, while it was recorded at 49.81 for the last single week of trading, and 61.60 for the last 200 days.

Insight into Alcoa Corporation 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.

Alcoa Corporation [AA] Insider Position Details

There are presently around $7,774 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 $905.83 million in AA stocks shares; and FMR LLC, currently with $459.31 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 303 institutional holders increased their position in Alcoa Corporation [NYSE:AA] by around 37,066,911 shares. Additionally, 295 investors decreased positions by around 33,007,738 shares, while 79 investors held positions by with 85,162,237 shares. The mentioned changes placed institutional holdings at 155,236,886 shares, according to the latest SEC report filing. AA stock had 162 new institutional investments in for a total of 16,580,157 shares, while 89 institutional investors sold positions of 5,573,376 shares during the same period.