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Alcoa Corp (AA) Is Now En Route to Higher Prices

Alcoa Corp (NYSE: AA) is 4.82% higher on its value in year-to-date trading and has touched a low of $23.07 and a high of $42.95 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 AA stock was last observed hovering at around $34.02 in the last trading session, with the day’s gains setting it 1.62%.

Currently trading at $35.64, the stock is 16.30% and 22.71% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.17 million and changing 4.76% at the moment leaves the stock 20.61% off its SMA200. AA registered -14.66% loss for a year compared to 6-month loss of 22.64%. The firm has a 50-day simple moving average (SMA 50) of $0.70 and a 200-day simple moving average (SMA200) of $47.55.

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The stock witnessed a 28.76% gain in the last 1 month and extending the period to 3 months gives it a 4.82%, and is 11.86% 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 3.79% over the week and 4.06% over the month.

Alcoa Corp (AA) has around 13600 employees, a market worth around $6.40B and $10.71B in sales. Fwd P/E is 17.99. Profit margin for the company is -6.08%. Distance from 52-week low is 54.49% and -17.02% from its 52-week high. The company has generated returns on investments over the last 12 months (-10.69%).

Alcoa Corp quarterly earnings per share for the current quarter are estimated at -$0.46 with sales reaching $2.55B over the same period.The EPS is expected to grow by 100.30% this year, but quarterly earnings will post 1.40% year-over-year. Quarterly sales are estimated to shrink -6.40% in year-over-year returns.

Alcoa Corp (AA) Top Institutional Holders

622 institutions hold shares in Alcoa Corp (AA), with institutional investors hold 86.83% of the company’s shares. The shares outstanding are 178.47M, and float is at 177.41M with Short Float at 7.43%. Institutions hold 85.89% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 21.25 million shares valued at $721.12 million. The investor’s holdings represent 11.91% of the AA Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 17.95 million shares valued at $609.07 million to account for 10.06% of the shares outstanding. The other top investors are State Street Corporation which holds 8.18 million shares representing 4.59% and valued at over $277.72 million, while Bank Of New York Mellon Corporation holds 4.22% of the shares totaling 7.54 million with a market value of $255.69 million.

Alcoa Corp (AA) Insider Activity

The most recent transaction is an insider sale by Jones Tammi A,the company’sEVP & CHRO. SEC filings show that Jones Tammi A sold 26,468 shares of the company’s common stock on Mar 13 ’24 at a price of $30.78 per share for a total of $0.81 million. Following the sale, the insider now owns 41166.0 shares.

Alcoa Corp disclosed in a document filed with the SEC on Mar 13 ’24 that Jones Tammi A (EVP & CHRO) sold a total of 1,440 shares of the company’s common stock. The trade occurred on Mar 13 ’24 and was made at $30.67 per share for $44165.0. Following the transaction, the insider now directly holds 9265.0 shares of the AA stock.

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