Alcoa Corp [AA] Stock trading around $25.32 per share: What’s Next?

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Alcoa Corp [NYSE: AA] gained 7.70% or 1.81 points to close at $25.32 with a heavy trading volume of 9437192 shares. The company report on October 18, 2023 at 4:12 PM that Alcoa Corporation Reports Third Quarter 2023 Results.

Alcoa Corporation (NYSE: AA) today reported third quarter 2023 results that include increased third-party shipments in the Company’s two segments and a sequential improvement in cash generated from operations despite lower sequential average realized prices for alumina and aluminum.

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It opened the trading session at $24.00, the shares rose to $25.425 and dropped to $23.8501, the range by which the price of stock traded the whole day. The daily chart for AA points out that the company has recorded -32.06% loss over the past six months. However, it is still -9.75% lower than its most recent low trading price.

If we look at the average trading volume of 5.98M shares, AA reached to a volume of 9437192 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AA shares is $30.58 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 2.92. 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.

BofA Securities have made an estimate for Alcoa Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 23, 2023.

The Average True Range (ATR) for Alcoa Corp is set at 1.24, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.42. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 5.96.

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Trading performance analysis for AA stock

Alcoa Corp [AA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.16. With this latest performance, AA shares dropped by -12.87% in over the last four-week period, additionally sinking by -32.06% over the last 6 months – not to mention a drop of -38.86% 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 45.74, with the RSI for the last a single of trading hit 49.96, and the three-weeks RSI is set at 44.14 for Alcoa Corp [AA]. The present Moving Average for the last 50 days of trading for this stock 27.58, while it was recorded at 23.92 for the last single week of trading, and 36.87 for the last 200 days.

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

Alcoa Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.83 and a Current Ratio set at 1.66.

Alcoa Corp [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 Corp go to 12.30%.

An analysis of Institutional ownership at Alcoa Corp [AA]

The top three institutional holders of AA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in AA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in AA stock with ownership which is approximately 5.7994%.

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