In Wednesday’s Wall Street session, Alcoa Corp (NYSE:AA) shares traded at $24.40, down -1.81% from the previous session.
AA stock price is now -15.67% away from the 50-day moving average and -30.77% away from the 200-day moving average. The market capitalization of the company currently stands at $6.32B.
With the price target maintained at $26, BofA Securities recently Downgraded its rating from Buy to Underperform for Alcoa Corp (NYSE: AA). On October 23, 2024, Argus Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock keeping its target price maintained at $48, while ‘B. Riley Securities’ rates the stock as ‘Buy’
In other news, Bacchi Renato, EVP & Chief Commercial Officer sold 23,867 shares of the company’s stock on Oct 22 ’24. The stock was sold for $1,009,431 at an average price of $42.29. Upon completion of the transaction, the EVP & Chief Commercial Officer now directly owns 57,317 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 Oct 22 ’24, Officer Bacchi Renato bought 23,867 shares of the business’s stock. A total of $1,009,430 was incurred on buying the stock at an average price of $42.29. A total of 0.82% of the company’s stock is owned by insiders.
During the past 12 months, Alcoa Corp has had a low of $21.53 and a high of $47.77. As of last week, the company has a debt-to-equity ratio of 0.46, a current ratio of 1.71, and a quick ratio of 1.00.
The net profit margin was 6.66% and return on equity was 17.53% for AA. The company reported revenue of $3.37 billion for the quarter, compared to $2.6 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 29.63 percent.
