Alcoa Sees Significant Decline in Short Interest (AA)
Alcoa (NYSE:AA) was the recipient of a significant decrease in short interest during the month of January. As of March 31st, there was short interest totalling 79,280,002 shares, a decrease of 8.7% from the March 14th total of 86,871,675 shares, American Banking & Market News reports. Based on an average daily volume of 25,107,095 shares, the short-interest ratio is presently 3.2 days. Currently, 7.4% of the company’s stock are sold short.
In other Alcoa news, EVP Olivier M. Jarrault sold 28,563 shares of the stock on the open market in a transaction dated Monday, April 21st. The stock was sold at an average price of $13.49, for a total value of $385,314.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on AA. Analysts at RBC Capital upgraded shares of Alcoa from an “underperform” rating to a “sector perform” rating in a research note on Thursday, April 17th. They now have a $15.00 price target on the stock, up previously from $12.00. Separately, analysts at Cowen and Company reiterated a “hold” rating on shares of Alcoa in a research note on Wednesday, April 9th. They now have a $12.00 price target on the stock, up previously from $11.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Alcoa in a research note on Thursday, April 10th. They now have a $14.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. Alcoa currently has an average rating of “Hold” and an average target price of $13.07.
Alcoa (NYSE:AA) opened at 13.51 on Wednesday. Alcoa has a one year low of $7.63 and a one year high of $13.68. The stock’s 50-day moving average is $12.43 and its 200-day moving average is $10.70. The company’s market cap is $15.822 billion.
Alcoa (NYSE:AA) last posted its quarterly earnings results on Tuesday, April 8th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.04. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. Analysts expect that Alcoa will post $0.45 EPS for the current fiscal year.
Alcoa Inc (NYSE:AA) is engaged in lightweight metals, products and solutions.
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