Stocks of Alcoa Corp (NYSE:AA) traded higher last session on Wall Street, down -2.95% to $38.54.
AA stock price is now -0.61% away from the 50-day moving average and 24.59% away from the 200-day moving average. The market capitalization of the company currently stands at $6.92B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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 $1.59 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 $0.36 million. A total of 1.13% 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 $45.48. 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 fifty day moving average price for AA is $38.8018 and a two-hundred day moving average price translates $30.9826 for the stock.
The latest earnings results from Alcoa Corp (NYSE: AA) was released for 2024-03-31. 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.
