Alcoa Corp (NYSE:AA) price on current trading day, fall -7.74% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $42.59.
A look at the stock’s price movement, the level at last check in today’s session was $46.17, moving within a range at $41.58 and $44.755. The beta value (5-Year monthly) was 2.419. Turning to its 52-week performance, $47.77 and $23.80 were the 52-week high and 52-week low respectively. Overall, AA moved -6.10% over the past month.
Alcoa Corp’s market cap currently stands at around $11.00 billion, with investors looking forward to this quarter’s earnings report slated for in January. The company has a Forward Dividend ratio of 0.40, with its dividend yield at 0.94%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 3.3B for the company’s revenue for the quarter, with a low and high estimate of 3.14B and 3.57B respectively. The average forecast suggests up to a 27.18% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 11.66B, representing a 10.50% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that AA is a 50% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
14 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 7 analyst(s) rate the stock as a Hold, 5 recommend AA as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 2 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
AA’s current price about -4.87% and 0.52% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 44.03, while 7-day volatility ratio is 2.90% and 3.39% in the 30-day chart. Further, Alcoa Corp (AA) has a beta value of 2.44, and an average true range (ATR) of 1.77. Analysts have given the company’s stock an average 52-week price target of $50, forecast between a low of $38 and high of $52. Looking at the price targets, the low is 10.78% off recent price level in today’s trading while to achieve the yearly target high, it has to move -22.09%. Nonetheless, investors will most likely welcome a -17.4% jump to $50 which is the analysts’ median price.
If we refocus on Alcoa Corp (NYSE:AA), historical trading data shows that trading volumes averaged 3.38 over the past 10 days and 5.04 million over the past 3 months. The company’s latest data on shares outstanding shows there are 258.35 million shares.
The 0.76% of Alcoa Corp’s shares are in the hands of company insiders while institutional holders own 74.43% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 8.8 million on 2024-11-15, giving us a short ratio of 1.73. The data shows that as of 2024-11-15 short interest in Alcoa Corp (AA) stood at 404.0 of shares outstanding, with shares short falling to 9.31 million registered in 2024-10-15. Current price change has pushed the stock 25.28% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the AA stock continues to rise going into the next quarter.
