Alcoa Corp [NYSE: AA] plunged by -$1.18 during the normal trading session on while it closed the day at $25.34. The company report on February 25, 2024 at 5:04 PM that Alcoa Announces Agreement With Alumina Limited on Terms and Process to Acquire Alumina Limited in All-Stock Transaction.
Transaction would further enhance Alcoa’s position as of one of the world’s largest bauxite and alumina producers with increased ownership of core, tier-1 assets.
Transaction would provide Alumina Limited shareholders the opportunity to participate in the upside potential of a stronger, better-capitalized company with a larger, more diversified portfolio.
Alcoa Corp stock has also loss -7.52% of its value over the past 7 days. However, AA stock has declined by -3.94% in the 3 months of the year. Over the past six months meanwhile, it has lost -11.86% and lost -25.47% year-on date.
The market cap for AA stock reached $4.55 billion, with 178.47 million shares outstanding and 177.38 million shares in the current float. Compared to the average trading volume of 6.25M shares, AA reached a trading volume of 10213591 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 Corp [AA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AA shares is $31.06 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 3.23. 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.
UBS have made an estimate for Alcoa Corp shares, keeping their opinion on the stock as Sell, with their previous recommendation back on January 16, 2024. While these analysts kept the previous recommendation, HSBC Securities raised their target price to Hold. The new note on the price target was released on December 07, 2023, representing the official price target for Alcoa Corp stock. Previously, the target price had yet another drop from $35 to $25, while BofA Securities kept a Neutral rating on AA stock.
The Average True Range (ATR) for Alcoa Corp is set at 1.29, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.43. The Price to Book ratio for the last quarter was 1.06, with the Price to Cash per share for the same quarter was set at 5.99.
AA stock trade performance evaluation
Alcoa Corp [AA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.52. With this latest performance, AA shares dropped by -15.19% in over the last four-week period, additionally sinking by -11.86% over the last 6 months – not to mention a drop of -47.16% 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 37.76, with the RSI for the last a single of trading hit 34.27, and the three-weeks RSI is set at 40.55 for Alcoa Corp [AA]. The present Moving Average for the last 50 days of trading for this stock 29.62, while it was recorded at 26.85 for the last single week of trading, and 30.16 for the last 200 days.
Alcoa Corp [AA]: An insightful look at the core fundamentals
Alcoa Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.74 and a Current Ratio set at 1.45.
Earnings per share (EPS) analysis for Alcoa Corp [AA] stock
With the latest financial reports released by the company, Alcoa Corp posted -0.23/share EPS, while the average EPS was predicted by analysts to be reported at -0.11/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -109.10%. 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%.
Alcoa Corp [AA]: Institutional Ownership
The top three institutional holders of AA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AA stock with ownership which is approximately 5.8325%.
