The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Alcoa Corp shares valued at $1,009,431 were sold by Bacchi Renato on Oct 22 ’24. At $42.29 per share, Bacchi Renato sold 23,867 shares. The insider’s holdings dropped to 57,317 shares worth approximately $2.36 million following the completion of this transaction.
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Also, Bacchi Renato purchased 23,867 shares, netting a total of over 1,009,430 in proceeds.
Before that, Jones Tammi A had sold 26,468 shares from its account. In a trade valued at $814,582, the EVP & CHRO traded Alcoa Corp shares for $30.78 each. Upon closing the transaction, the insider’s holdings decreased to 26,468 shares, worth approximately $1.7 million.
As published in a research note from Argus on October 23, 2024, Alcoa Corp [AA] has been rated up from a Hold to a Buy and the price target has been revised to $48. Analysts at B. Riley Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid October. As of October 01, 2024, BofA Securities has increased its “Neutral” rating to a “Buy” for AA.
Analyzing AA Stock Performance
During the last five days, there has been a drop of approximately -9.81%. Over the course of the year, Alcoa Corp shares have jumped approximately 21.21%. Shares of the company reached a 52-week high of $46.55 on 11/07/24 and a 52-week low of $24.86 on 02/26/24. A 50-day SMA is recorded $38.63, while a 200-day SMA reached $35.64. Nevertheless, trading volume fell to 4.5 million shares from 2.91 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 40.75, which, if violated, would cause prices to drop to 40.30. In the upper region, resistance lies at 41.87. The next price resistance is at 42.54. RSI (Relative Strength Index) is 50.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.17, which suggests the price will decrease in the coming days. Percent R is at 75.15%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
