Alcoa Co. (NYSE:AA) Sees Significant Growth in Short Interest

Alcoa Co. (NYSE:AA) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 9,090,000 shares, a growth of 10.3% from the January 15th total of 8,240,000 shares. Based on an average trading volume of 4,590,000 shares, the days-to-cover ratio is currently 2.0 days.

Alcoa Price Performance

Shares of AA stock traded down $0.92 during mid-day trading on Monday, reaching $34.40. The company’s stock had a trading volume of 3,867,992 shares, compared to its average volume of 5,397,913. The firm’s 50-day moving average is $39.29 and its two-hundred day moving average is $37.51. The company has a market cap of $8.89 billion, a P/E ratio of -214.88, a PEG ratio of 0.20 and a beta of 2.43. Alcoa has a 1-year low of $24.86 and a 1-year high of $47.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, research analysts predict that Alcoa will post 4.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AA shares. B. Riley raised shares of Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Morgan Stanley lowered their price target on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. UBS Group increased their price objective on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets raised their price target on Alcoa to $43.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.55.

Institutional Investors Weigh In On Alcoa

Large investors have recently bought and sold shares of the business. UMB Bank n.a. lifted its position in shares of Alcoa by 481.7% during the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 631 shares in the last quarter. Quarry LP acquired a new position in Alcoa during the 3rd quarter worth $43,000. Continuum Advisory LLC boosted its position in Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after buying an additional 1,070 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Alcoa by 399.0% in the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock valued at $55,000 after buying an additional 1,157 shares during the period. Finally, Millburn Ridgefield Corp bought a new stake in shares of Alcoa during the third quarter worth $89,000.

Alcoa Company Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.