Alcoa Co. (NYSE:AA) Short Interest Update

Alcoa Co. (NYSE:AA) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 8,500,000 shares, a drop of 6.5% from the January 15th total of 9,090,000 shares. Based on an average daily trading volume, of 4,790,000 shares, the short-interest ratio is presently 1.8 days.

Hedge Funds Weigh In On Alcoa

A number of large investors have recently bought and sold shares of the stock. Mountaineer Partners Management LLC boosted its stake in shares of Alcoa by 4,023.0% during the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock valued at $416,505,000 after purchasing an additional 10,534,036 shares during the period. Norges Bank bought a new stake in Alcoa during the 4th quarter valued at $259,273,000. State Street Corp boosted its position in Alcoa by 23.3% during the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after buying an additional 1,805,915 shares during the period. Sourcerock Group LLC grew its holdings in Alcoa by 319.1% in the 4th quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company’s stock worth $74,729,000 after acquiring an additional 1,506,009 shares during the last quarter. Finally, Paloma Partners Management Co increased its position in shares of Alcoa by 11,317.8% in the third quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company’s stock valued at $55,084,000 after acquiring an additional 1,415,294 shares during the period.

Alcoa Trading Down 0.4 %

Shares of AA stock traded down $0.15 on Monday, hitting $36.24. 3,110,074 shares of the company’s stock traded hands, compared to its average volume of 5,195,430. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of -226.47, a P/E/G ratio of 0.20 and a beta of 2.43. The company’s fifty day simple moving average is $37.22 and its 200 day simple moving average is $37.72. Alcoa has a one year low of $24.86 and a one year high of $47.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. Equities analysts forecast that Alcoa will post 4.43 EPS for the current year.

Analyst Upgrades and Downgrades

AA has been the subject of several recent analyst reports. Bank of America boosted their target price on Alcoa to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Jefferies Financial Group decreased their price objective on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. B. Riley raised shares of Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. BMO Capital Markets boosted their price target on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Finally, Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $46.55.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.