Alcoa Sees Unusually High Options Volume (AA)
Alcoa (NYSE:AA) was the target of some unusual options trading activity on Monday. Investors acquired 14,297 put options on the company, Analyst Ratings Network reports. This is an increase of approximately 221% compared to the average daily volume of 4,457 put options.
A number of analysts have recently weighed in on AA shares. Analysts at Goldman Sachs Group Inc. upgraded shares of Alcoa from a “neutral” rating to a “buy” rating in a research note to investors on Monday, November 25th. They now have a $11.00 price target on the stock, up previously from $8.00. Separately, analysts at RBC Capital reiterated an “underperform” rating on shares of Alcoa in a research note to investors on Friday, November 8th. Finally, analysts at UBS AG reiterated a “neutral” rating on shares of Alcoa in a research note to investors on Friday, November 8th. They now have a $9.50 price target on the stock, up previously from $8.75. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.62.
Alcoa (NYSE:AA) opened at 10.53 on Tuesday. Alcoa has a 52-week low of $7.63 and a 52-week high of $10.77. The stock’s 50-day moving average is $9.74 and its 200-day moving average is $8.64. The company has a market cap of $11.263 billion and a price-to-earnings ratio of 38.44.
Alcoa Inc (NYSE:AA) is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined, through its participation in technology, mining, refining, smelting, fabricating, and recycling.
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