Alcoa Corporation [AA] Revenue clocked in at $13.39 billion, down -42.15% YTD: What’s Next?

Alcoa Corporation [NYSE: AA] plunged by -$1.04 during the normal trading session on Monday and reaching a high of $36.02 during the day while it closed the day at $34.47. The company report on September 13, 2022 that Alcoa announces innovations in alloy development and deployment.

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New high-strength, 6000 series alloy, A210 ExtruStrongTM debuts, offering thinner, stronger extrusions for a variety of applications.

Existing alloy, C611 EZCastTM, recognized with international award for its use in one-piece megacastings for automotive applications.

Alcoa Corporation stock has also loss -22.76% of its value over the past 7 days. However, AA stock has declined by -30.45% in the 3 months of the year. Over the past six months meanwhile, it has lost -62.52% and lost -42.15% year-on date.

The market cap for AA stock reached $6.55 billion, with 182.00 million shares outstanding and 173.82 million shares in the current float. Compared to the average trading volume of 6.05M shares, AA reached a trading volume of 7258251 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $58.05 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.

Wolfe Research have made an estimate for Alcoa Corporation shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on September 22, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $51 to $66. The new note on the price target was released on September 16, 2022, representing the official price target for Alcoa Corporation stock. Previously, the target price had yet another raise to $84, while Citigroup analysts kept a Neutral rating on AA stock. On April 08, 2022, analysts increased their price target for AA shares from 68 to 82.

The Average True Range (ATR) for Alcoa Corporation is set at 2.86, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.49. The Price to Book ratio for the last quarter was 1.11, with the Price to Cash per share for the same quarter was set at 8.62. Price to Free Cash Flow for AA in the course of the last twelve months was 5.87 with Quick ratio for the last quarter at 1.00.

AA stock trade performance evaluation

Alcoa Corporation [AA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -22.76. With this latest performance, AA shares dropped by -39.44% in over the last four-week period, additionally sinking by -62.52% over the last 6 months – not to mention a drop of -28.91% 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 26.88, with the RSI for the last a single of trading hit 20.67, and the three-weeks RSI is set at 31.46 for Alcoa Corporation [AA]. The present Moving Average for the last 50 days of trading for this stock 48.34, while it was recorded at 38.09 for the last single week of trading, and 61.27 for the last 200 days.

Alcoa Corporation [AA]: An insightful look at the core fundamentals

Alcoa Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.80.

Alcoa Corporation [AA]: Insider Ownership positions

There are presently around $5,233 million, or 86.20% of AA stock, in the hands of institutional investors. The top three institutional holders of AA stocks are: BLACKROCK INC. with ownership of 22,327,848, which is approximately 11.171% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 18,150,355 shares of the stock with an approximate value of $625.64 million in AA stocks shares; and STATE STREET CORP, currently with $270.32 million in AA stock with ownership of nearly 16.344% of the company’s market capitalization.

Positions in Alcoa Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 279 institutional holders increased their position in Alcoa Corporation [NYSE:AA] by around 22,546,603 shares. Additionally, 313 investors decreased positions by around 25,640,128 shares, while 84 investors held positions by with 103,612,087 shares. The mentioned changes placed institutional holdings at 151,798,818 shares, according to the latest SEC report filing. AA stock had 89 new institutional investments in for a total of 5,283,244 shares, while 161 institutional investors sold positions of 7,255,388 shares during the same period.


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