Stocks of Alcoa Corp (NYSE:AA) traded higher last session on Wall Street, down -0.82% to $39.83.
AA stock price is now 16.78% away from the 50-day moving average and 33.40% away from the 200-day moving average. The market capitalization of the company currently stands at $7.15B.
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With the price target enhanced from $28.50 to $36.50, Morgan Stanley Upgraded its rating from Underweight to Equal-Weight for Alcoa Corp (NYSE: AA). On January 16, 2024, UBS recently initiated its ‘Sell’ rating on the stock quoting a target price of $29, while ‘HSBC Securities’ rates the stock as ‘Hold’
In other news, Jones Tammi A, EVP & CHRO sold 26,468 shares of the company’s stock on Mar 13 ’24. The stock was sold for $814,582 at an average price of $30.78. Upon completion of the transaction, the EVP & CHRO now directly owns 41,166 shares in the company, valued at $1.64 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 13 ’24, EVP & CHRO Jones Tammi A sold 1,440 shares of the business’s stock. A total of $44,165 was realized by selling the stock at an average price of $30.67. This leaves the insider owning 9,265 shares of the company worth $0.37 million. A total of 1.20% of the company’s stock is owned by insiders.
During the past 12 months, Alcoa Corp has had a low of $23.07 and a high of $40.31. As of last week, the company has a debt-to-equity ratio of 0.64, a current ratio of 1.61, and a quick ratio of 0.93.
The net profit margin was -6.33% and return on equity was -15.48% for AA. The company reported revenue of $2.6 billion for the quarter, compared to $2.67 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.66 percent.
