A company insider recently sold 28,326 shares of Alcoa Corporation [AA]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Alcoa Corporation shares valued at $2,133,761 were sold by Slaven John D on Feb 24. At $75.33 per share, Slaven John D sold 28,326 shares. The insider’s holdings dropped to 54,730 shares worth approximately $2.62 million following the completion of this transaction.


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Also, Elam Harden Sonya sold 1,317 shares, netting a total of over 102,970 in proceeds. Following the sale of shares at $78.19 each, the insider now holds 33,484 shares.

Before that, Beerman Molly S. had sold 12,500 shares from its account. In a trade valued at $806,606, the Senior VP & Controller traded Alcoa Corporation shares for $64.53 each. Upon closing the transaction, the insider’s holdings decreased to 12,500 shares, worth approximately $1.34 million.

As published in a research note from Citigroup on April 21, 2022, Alcoa Corporation [AA] has been rated down from a Buy to a Neutral and the price target has been revised to $84. This represents a 43.04% premium over Thursday’s closing price. Analysts at Credit Suisse downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in early April. As of March 24, 2022, Morgan Stanley has decreased its “an Overweight” rating to a “an Equal-weight” for AA. Earlier on January 11, 2022, Deutsche Bank downgraded its rating. Their new recommendation was “a Hold” for AA stock which previously was a “a Buy”.

Analyzing AA’s Price Performance

On Thursday, Alcoa Corporation [NYSE: AA] plunged -1.32% to $47.85. The stock’s lowest price that day was $47.20, but it reached a high of $49.6399 in the same session. During the last five days, there has been a drop of approximately -2.51%. Over the course of the year, Alcoa Corporation shares have dropped approximately -19.69%. Shares of the company reached a 52-week high of $98.09 on 03/25/22 and a 52-week low of $39.56 on 07/14/22. A 50-day SMA is recorded $50.53, while a 200-day SMA reached $61.14. Nevertheless, trading volume fell to 4.49 million shares from 4.38 million shares the previous day.

Support And Resistance Levels for Alcoa Corporation (AA)

According to the 24-hour chart, there is a support level at 46.82, which, if violated, would cause prices to drop to 45.79. In the upper region, resistance lies at 49.26. The next price resistance is at 50.67. RSI (Relative Strength Index) is 50.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.17, which suggests the price will increase in the coming days. Percent R is at 38.76%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Alcoa Corporation subject to short interest?

Stocks of Alcoa Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.2 million shares to 9.34 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 10.54 million shares. A decline of -12.85% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.47 of the overall float, the days-to-cover ratio (short ratio) decline to 1.47.

Which companies own the most shares of Alcoa Corporation (AA)?

According to The Vanguard Group, Inc. filings, the company currently owns 17,864,659 shares, which is about 9.69% of the total AA shares outstanding. The investor’s shares have plunged by 820 from its previous 13-F filing of 17863839.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $666,855,865. Fidelity Management & Research Co acquire a 524.13% interest valued at $387.0 million while SSgA Funds Management, Inc. purchased a 356,919 stake. A total of -1,330,514 shares of Alcoa Corporation were bought by Dimensional Fund Advisors LP during the quarter, and 958,940 were bought by Soroban Capital Partners LP. In its current portfolio, Fisher Asset Management LLC holds 4,239,604 shares valued at $193.24 million.

In terms of Alcoa Corporation share price expectations, FactSet research, analysts set an average price target of $60.37 in the next 12 months, up nearly 19.61% from the previous closing price of $48.49. Analysts anticipate Alcoa Corporation stock to reach $80.00 by 2022, with the lowest price target being $45.00. In spite of this, 14 analysts ranked Alcoa Corporation stock as an Overweight at the end of 2022. On November 17, 2021, Wolfe Research assigned a price target of “an Outperform” to the stock and initiated coverage with a $63.

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