Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Alcoa Corp shares valued at $814,582 were sold by Jones Tammi A on Mar 13 ’24. At $30.78 per share, Jones Tammi A sold 26,468 shares. The insider’s holdings dropped to 41,166 shares worth approximately $1.28 million following the completion of this transaction.
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Also, Jones Tammi A sold 1,440 shares, netting a total of over 44,165 in proceeds. Following the sale of shares at $30.67 each, the insider now holds 9,265 shares.
As published in a research note from UBS on August 12, 2024, Alcoa Corp [AA] has been rated up from a Sell to a Buy and the price target has been revised to $38 from $32. Analysts at Wolfe Research upgraded the stock from ‘”an Underperform”‘ to ‘”a Peer perform”‘ outlook in a report released in early August. As of June 21, 2024, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for AA. Earlier on April 22, 2024, Morgan Stanley upgraded its rating. Their new recommendation was “an Equal-weight” for AA stock which previously was a “an Underweight”.
Analyzing AA Stock Performance
During the last five days, there has been a surge of approximately 6.47%. Over the course of the year, Alcoa Corp shares have dropped approximately -8.53%. Shares of the company reached a 52-week high of $45.48 on 05/30/24 and a 52-week low of $24.86 on 02/26/24. A 50-day SMA is recorded $36.72, while a 200-day SMA reached $32.73. Nevertheless, trading volume fell to 5.08 million shares from 4.91 million shares the previous day.
Support And Resistance Levels for Alcoa Corp (AA)
According to the 24-hour chart, there is a support level at 30.66, which, if violated, would cause prices to drop to 30.23. In the upper region, resistance lies at 31.75. The next price resistance is at 32.41. RSI (Relative Strength Index) is 39.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.27, which suggests the price will decrease in the coming days. Percent R is at 43.63%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
