Alcoa Corp (NYSE:AA) shares, rose in value on Thursday, August 29, with the stock price up by 0.33% to the previous day’s close as strong demand from buyers drove the stock to $32.19.
Actively observing the price movement in the recent trading, the stock is buoying the session at $32.09, falling within a range of $31.7 and $32.5423. The value of beta (5-year monthly) is 2.456. Referring to stock’s 52-week performance, its high was $45.48, and the low was $23.07. On the whole, AA has fluctuated by -2.56% over the past month.
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With the market capitalization of Alcoa Corp currently standing at about $8.32 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Oct-16. The company’s Forward Dividend Ratio is 0.40, with its dividend yield at 1.24%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 11.39B, with a low estimate of 2.9B and a high estimate of 3.12B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 2.98B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that AA’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the price of AA currently trading nearly 1.29% and -8.84% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.16, while the 7-day volatility ratio is showing 3.47% which for the 30-day chart, stands at 3.82%. Furthermore, Alcoa Corp (AA)’s beta value is 2.43, and its average true range (ATR) is 1.37.
A comparison of Alcoa Corp (AA) with its peers suggests the former has fared considerably weaker in the market. AA showed an intraday change of 0.33% in today’s session so far, and over the past year, it grew by 8.73%%.
Data on historical trading for Alcoa Corp (NYSE:AA) indicates that the trading volumes over the past 10 days have averaged 4.94 and over the past 3 months, they’ve averaged 5.72 million. According to company’s latest data on outstanding shares, there are 258.34 million shares outstanding.
Nearly 0.78% of Alcoa Corp’s shares belong to company insiders and institutional investors own 63.73% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 13.01 million shares as on 2024-08-15, resulting in a short ratio of 1.7. According to the data, the short interest in Alcoa Corp (AA) stood at 597.00 of shares outstanding as of 2024-08-15; the number of short shares registered in 2024-07-15 reached 10.96 million. The stock has fallen by -5.31% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AA stock heading into the next quarter.
