Alcoa Corporation [AA] Is Currently 3.42 below its 200 Period Moving Avg: What Does This Mean?

Alcoa Corporation [NYSE: AA] gained 3.42% or 1.59 points to close at $48.04 with a heavy trading volume of 4928617 shares. The company report on February 23, 2023 that Alcoa Corporation Declares Quarterly Cash Dividend.

Alcoa Corporation (NYSE: AA) today announced that its Board of Directors has declared a quarterly cash dividend of $0.10 per share of the Company’s common stock, to be paid on March 23, 2023 to stockholders of record as of the close of business on March 7, 2023.

It opened the trading session at $46.85, the shares rose to $48.435 and dropped to $46.37, the range by which the price of stock traded the whole day. The daily chart for AA points out that the company has recorded -15.60% loss over the past six months. However, it is still -43.19% lower than its most recent low trading price.

If we look at the average trading volume of 4.69M shares, AA reached to a volume of 4928617 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 $55.64 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 2.30. 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 February 22, 2023. While these analysts kept the previous recommendation, B. Riley Securities raised their target price from $41 to $42. The new note on the price target was released on January 19, 2023, representing the official price target for Alcoa Corporation stock. Previously, the target price had yet another drop from $60 to $56, while Morgan Stanley kept a Equal-Weight rating on AA stock.

The Average True Range (ATR) for Alcoa Corporation is set at 2.45, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.70. The Price to Book ratio for the last quarter was 1.60, with the Price to Cash per share for the same quarter was set at 7.84. Price to Free Cash Flow for AA in the course of the last twelve months was 7.87 with Quick ratio for the last quarter at 1.00.

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 2.45. With this latest performance, AA shares dropped by -7.81% in over the last four-week period, additionally sinking by -15.60% over the last 6 months – not to mention a drop of -34.46% 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 46.04, with the RSI for the last a single of trading hit 45.15, and the three-weeks RSI is set at 47.61 for Alcoa Corporation [AA]. The present Moving Average for the last 50 days of trading for this stock 48.91, while it was recorded at 47.90 for the last single week of trading, and 48.09 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Alcoa Corporation [AA] shares currently have an operating margin of +13.30 and a Gross Margin at +15.15. Alcoa Corporation’s Net Margin is presently recorded at -0.96.

Return on Equity for this stock declined to -2.52, with Return on Assets sitting at -0.83.

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]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Alcoa Corporation go to 12.30%.

An analysis of insider ownership at Alcoa Corporation [AA]

There are presently around $7,033 million, or 82.60% of AA stock, in the hands of institutional investors. The top three institutional holders of AA stocks are: BLACKROCK INC. with ownership of 22,268,506, which is approximately -0.607% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 17,673,416 shares of the stock with an approximate value of $849.03 million in AA stocks shares; and STATE STREET CORP, currently with $384.42 million in AA stock with ownership of nearly 10.083% of the company’s market capitalization.

Positions in Alcoa Corporation stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 227 institutional holders increased their position in Alcoa Corporation [NYSE:AA] by around 25,101,317 shares. Additionally, 284 investors decreased positions by around 20,895,612 shares, while 88 investors held positions by with 100,411,200 shares. The mentioned changes placed institutional holdings at 146,408,129 shares, according to the latest SEC report filing. AA stock had 90 new institutional investments in for a total of 4,528,822 shares, while 92 institutional investors sold positions of 5,091,360 shares during the same period.