In yesterday’s Wall Street session, Alcoa Corp (NYSE:AA) shares traded at $33.90, down -1.82% from the previous session.
AA stock price is now -15.65% away from the 50-day moving average and 5.05% away from the 200-day moving average. The market capitalization of the company currently stands at $6.09B.
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With the price target enhanced from $36.50 to $50, Morgan Stanley Upgraded its rating from Equal-Weight to Overweight for Alcoa Corp (NYSE: AA). On April 22, 2024, Morgan Stanley Upgraded its previous ‘Underweight’ rating to ‘Equal-Weight’ on the stock increasing its target price from $28.50 to quote $36.50, while ‘UBS’ rates the stock as ‘Sell’
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 $1.4 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 $0.31 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 0.65, a current ratio of 1.55, and a quick ratio of 0.92. The fifty day moving average price for AA is $40.1222 and a two-hundred day moving average price translates $32.3034 for the stock.
The latest earnings results from Alcoa Corp (NYSE: AA) was released for 2024-06-30. The net profit margin was -5.09% and return on equity was -12.58% 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.
