Short Interest in Alcoa (NYSE:AA) Decreases By 18.2%

Alcoa (NYSE:AA) was the target of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 5,480,549 shares, a decrease of 18.2% from the January 15th total of 6,702,400 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 8,801,915 shares, the short-interest ratio is presently 0.6 days. Based on an average daily trading volume, of 8,801,915 shares, the short-interest ratio is presently 0.6 days. Currently, 2.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several analysts recently issued reports on AA shares. Morgan Stanley reaffirmed an “overweight” rating and set a $52.00 price objective on shares of Alcoa in a research note on Monday, December 15th. Wells Fargo & Company dropped their price target on Alcoa from $71.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. BMO Capital Markets lifted their price objective on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. B. Riley Financial restated a “buy” rating on shares of Alcoa in a report on Friday, January 23rd. Finally, Argus set a $45.00 target price on Alcoa in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Alcoa has a consensus rating of “Hold” and a consensus target price of $48.25.

Alcoa Trading Down 4.2%

Shares of NYSE AA traded down $2.52 during trading on Tuesday, reaching $57.43. The stock had a trading volume of 8,263,180 shares, compared to its average volume of 8,801,610. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.45. The company has a market cap of $14.87 billion, a P/E ratio of 12.99 and a beta of 1.91. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $66.95. The business’s 50-day moving average price is $57.19 and its 200-day moving average price is $42.77.

Alcoa (NYSE:AA) last released its earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.31. The company had revenue of ($1,130.00) million during the quarter, compared to the consensus estimate of $3.28 billion. Alcoa had a return on equity of 16.18% and a net margin of 9.12%.Alcoa’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.04 EPS. On average, equities research analysts predict that Alcoa will post 4.43 EPS for the current fiscal year.

Institutional Trading of Alcoa

A number of large investors have recently modified their holdings of AA. Prime Capital Investment Advisors LLC grew its stake in Alcoa by 1.9% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company’s stock worth $568,000 after purchasing an additional 204 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Alcoa by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock valued at $3,079,000 after buying an additional 229 shares during the period. CoreCap Advisors LLC grew its position in shares of Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after buying an additional 237 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Alcoa by 1.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock worth $722,000 after buying an additional 241 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in Alcoa by 1.5% in the third quarter. Quadrant Capital Group LLC now owns 22,497 shares of the industrial products company’s stock valued at $740,000 after acquiring an additional 324 shares in the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.