Stock Traders Buy High Volume of Alcoa Call Options (AA)
Shares of Alcoa (NYSE:AA) saw unusually large options trading activity on Wednesday. Traders bought 32,208 call options on the stock, Analyst Ratings Network.com reports. This is an increase of 126% compared to the average daily volume of 14,263 call 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 research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $8.62.
Shares of Alcoa (NYSE:AA) traded up 2.75% on Wednesday, hitting $10.83. 34,811,968 shares of the company’s stock traded hands. Alcoa has a 52-week low of $7.63 and a 52-week high of $10.77. The stock has a 50-day moving average of $9.79 and a 200-day moving average of $8.66. The company has a market cap of $11.584 billion and a price-to-earnings ratio of 38.33.
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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