Alcoa Corp [AA] fell -10.32% so far this year. What now?

Alcoa Corp [NYSE: AA] gained 2.14% or 0.64 points to close at $30.49 with a heavy trading volume of 6255779 shares. The company report on March 11, 2024 at 6:42 PM that Alcoa Enters into Binding Agreement to Acquire Alumina Limited.

Alcoa enters into Scheme Implementation Deed with Alumina Limited on terms consistent with previously agreed and announced Process Deed.

Both Alcoa and Alumina Limited Boards of Directors recommend that its shareholders vote in favor of the transaction.

The daily chart for AA points out that the company has recorded 8.51% gains over the past six months.

If we look at the average trading volume of 6.53M shares, AA reached to a volume of 6255779 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 Corp [AA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AA shares is $30.41 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 3.21. 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 1.28, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.51. The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 5.99.

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 10.95. With this latest performance, AA shares gained by 10.03% in over the last four-week period, additionally plugging by 8.51% over the last 6 months – not to mention a drop of -36.35% 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 61.67, with the RSI for the last a single of trading hit 68.83, and the three-weeks RSI is set at 57.68 for Alcoa Corp [AA]. The present Moving Average for the last 50 days of trading for this stock 28.93, while it was recorded at 29.07 for the last single week of trading, and 29.75 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 0.74 and a Current Ratio set at 1.45.

Alcoa Corp [AA]: An earnings per share (EPS) analysis

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 44.30%.

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 8.2815%. 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%.

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