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Arconic Corporation (ARNC) – Don’t Believe the Hype: Check The Facts

Arconic Corporation (NYSE: ARNC) is 36.58% higher on its value in year-to-date trading and has touched a low of $16.33 and a high of $31.24 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ARNC stock was last observed hovering at around $28.90 in the last trading session, with the day’s loss setting it 0.0%.

Currently trading at $28.90, the stock is 4.33% and 8.69% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.03 million and changing 0.00% at the moment leaves the stock 21.92% off its SMA200. ARNC registered 4.71% gain for a year compared to 6-month gain of 35.49%. The firm has a 50-day simple moving average (SMA 50) of $0.51 and a 200-day simple moving average (SMA200) of $36.24.

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The stock witnessed a 23.50% loss in the last 1 month and extending the period to 3 months gives it a 32.39%, and is 0.03% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 0.24% over the week and 1.38% over the month.

Arconic Corporation (ARNC) has around 11550 employees, a market worth around $2.90B and $8.70B in sales. Fwd P/E is 9.80. Profit margin for the company is -2.30%. Distance from 52-week low is 76.97% and -7.49% from its 52-week high. The company has generated returns on investments over the last 12 months (-1.20%).

Arconic Corporation (ARNC) Analyst Forecasts

Arconic Corporation is expected to release its quarterly report on 08/01/2023.The EPS is expected to grow by 51.80% this year

Arconic Corporation (ARNC) Top Institutional Holders

The shares outstanding are 99.40M, and float is at 98.41M with Short Float at 2.59%.

Arconic Corporation (ARNC) Insider Activity

A total of 32 insider transactions have happened at Arconic Corporation (ARNC) in the last six months, with sales accounting for 13 and purchases happening 19 times. The most recent transaction is an insider purchase by Austen William F., the company’s Director. SEC filings show that Austen William F. bought 10,000 shares of the company’s common stock on Nov 21 at a price of $19.84 per share for a total of $0.2 million. Following the purchase, the insider now owns 10000.0 shares.

Arconic Corporation disclosed in a document filed with the SEC on Aug 25 that Perreiah Diana B. (Executive Vice President) sold a total of 4,015 shares of the company’s common stock. The trade occurred on Aug 25 and was made at $27.40 per share for $0.11 million. Following the transaction, the insider now directly holds 0.13 million shares of the ARNC stock.

Still, SEC filings show that on Aug 08, Miller Melissa M (EVP and CHRO) disposed off 31,122 shares at an average price of $28.28 for $0.88 million. The insider now directly holds 66,926 shares of Arconic Corporation (ARNC).

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