Alcoa Corp’s recent filing unveils that its EVP & Chief Commercial Officer Bacchi Renato unloaded Company’s shares for reported $1.01 million on Oct 22 ’24. In the deal valued at $42.29 per share,23,867 shares were sold. As a result of this transaction, Bacchi Renato now holds 57,317 shares worth roughly $2.2 million.
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Then, Bacchi Renato bought 23,867 shares, generating $1,009,430 in total proceeds.
Before that, Jones Tammi A sold 26,468 shares. Alcoa Corp shares valued at $814,582 were divested by the EVP & CHRO at a price of $30.78 per share. As a result of the transaction, Jones Tammi A now holds 41,166 shares, worth roughly $1.58 million.
Argus upgraded its Alcoa Corp [AA] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including B. Riley Securities’s analysts, who increased its forecast for the stock in mid October from “a Neutral” to “a Buy”. BofA Securities also remained covering AA and has increased its forecast on October 01, 2024 with a “Buy” recommendation from previously “Neutral” rating.
Price Performance Review of AA
On Tuesday, Alcoa Corp [NYSE:AA] saw its stock fall -0.05% to $38.44. Over the last five days, the stock has lost -6.45%. Alcoa Corp shares have risen nearly 13.06% since the year began. Nevertheless, the stocks have risen 23.60% over the past one year. While a 52-week high of $47.77 was reached on 11/26/24, a 52-week low of $24.86 was recorded on 02/26/24. SMA at 50 days reached $42.48, while 200 days put it at $37.45.
Levels Of Support And Resistance For AA Stock
The 24-hour chart illustrates a support level at 37.69, which if violated will result in even more drops to 36.94. On the upside, there is a resistance level at 39.03. A further resistance level may holdings at 39.62. The Relative Strength Index (RSI) on the 14-day chart is 32.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.95, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.98%. Stochastics %K at 5.90% indicates the stock is a buying.
How much short interest is there in Alcoa Corp?
A steep rise in short interest was recorded in Alcoa Corp stocks on 2024-11-29, dropping by -0.33 million shares to a total of 8.45 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 8.78 million shares. There was a decline of -3.9%, which implies that there is a negative sentiment for the stock.
