Alcoa Corp (NYSE:AA) Short Interest Update

Alcoa Corp (NYSE:AA) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 7,050,000 shares, a decline of 9.6% from the January 15th total of 7,800,000 shares. Based on an average daily volume of 4,430,000 shares, the short-interest ratio is currently 1.6 days. Currently, 3.8% of the company’s shares are sold short.

Several institutional investors have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC lifted its position in shares of Alcoa by 2.4% during the 4th quarter. Wedge Capital Management L L P NC now owns 24,666 shares of the industrial products company’s stock valued at $531,000 after acquiring an additional 587 shares during the period. Victory Capital Management Inc. increased its stake in Alcoa by 3.5% during the 4th quarter. Victory Capital Management Inc. now owns 26,634 shares of the industrial products company’s stock valued at $372,000 after purchasing an additional 912 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Alcoa by 6.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,528 shares of the industrial products company’s stock valued at $292,000 after purchasing an additional 915 shares in the last quarter. Lindbrook Capital LLC increased its stake in Alcoa by 323.7% during the 3rd quarter. Lindbrook Capital LLC now owns 1,339 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 1,023 shares in the last quarter. Finally, Exane Derivatives increased its stake in Alcoa by 7.6% during the 4th quarter. Exane Derivatives now owns 15,203 shares of the industrial products company’s stock valued at $307,000 after purchasing an additional 1,072 shares in the last quarter.

Alcoa stock opened at $15.67 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.48 and a debt-to-equity ratio of 0.28. Alcoa has a 12-month low of $13.62 and a 12-month high of $31.45. The firm’s fifty day moving average is $17.74 and its 200 day moving average is $19.68. The company has a market capitalization of $2.91 billion, a PE ratio of -2.59 and a beta of 1.55.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, January 15th. The industrial products company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.09). Alcoa had a negative net margin of 10.78% and a negative return on equity of 2.71%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. The firm’s revenue was down 27.2% on a year-over-year basis. Sell-side analysts expect that Alcoa will post -0.21 EPS for the current fiscal year.

A number of brokerages have recently issued reports on AA. Bank of America downgraded shares of Alcoa from a “neutral” rating to an “underperform” rating and set a $21.00 price target on the stock. in a research report on Wednesday, November 13th. ValuEngine upgraded shares of Alcoa from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. Gabelli downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Zacks Investment Research downgraded shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd. Finally, Deutsche Bank upgraded shares of Alcoa from a “hold” rating to a “buy” rating and dropped their price target for the stock from $21.50 to $20.50 in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $23.75.

About Alcoa

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

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