Alcoa Corp. (AA) Short Interest Up 54.1% in April

Alcoa Corp. (NYSE:AA) saw a significant increase in short interest during the month of April. As of April 28th, there was short interest totalling 6,235,188 shares, an increase of 54.1% from the April 13th total of 4,045,606 shares. Based on an average trading volume of 6,871,006 shares, the short-interest ratio is presently 0.9 days. Approximately 3.7% of the shares of the stock are short sold.

Several hedge funds have recently bought and sold shares of the company. ICM Asset Management Inc. WA boosted its position in Alcoa Corp. by 7.2% in the third quarter. ICM Asset Management Inc. WA now owns 278,162 shares of the industrial products company’s stock valued at $2,821,000 after buying an additional 18,774 shares during the period. Hourglass Capital LLC boosted its position in Alcoa Corp. by 9.4% in the third quarter. Hourglass Capital LLC now owns 950,691 shares of the industrial products company’s stock valued at $9,640,000 after buying an additional 81,828 shares during the last quarter. AMG National Trust Bank boosted its position in Alcoa Corp. by 2.7% in the third quarter. AMG National Trust Bank now owns 192,905 shares of the industrial products company’s stock valued at $1,956,000 after buying an additional 5,129 shares during the last quarter. South Texas Money Management Ltd. boosted its position in shares of Alcoa Corp. by 35.3% in the third quarter. South Texas Money Management Ltd. now owns 2,893,264 shares of the industrial products company’s stock worth $29,338,000 after buying an additional 754,573 shares in the last quarter. Finally, NEXT Financial Group Inc raised its stake in shares of Alcoa Corp. by 1,003.0% in the third quarter. NEXT Financial Group Inc now owns 25,016 shares of the industrial products company’s stock worth $254,000 after buying an additional 22,748 shares during the last quarter.

Shares of Alcoa Corp. (AA) traded down 0.26% during mid-day trading on Tuesday, hitting $30.81. The company had a trading volume of 1,166,751 shares. The company’s 50-day moving average is $32.23 and its 200 day moving average is $33.33. Alcoa Corp. has a one year low of $20.00 and a one year high of $39.78. The company has a market capitalization of $5.68 billion and a PE ratio of 165.65.

Alcoa Corp. (NYSE:AA) last issued its quarterly earnings results on Monday, April 24th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.15. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the firm earned $0.07 EPS. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, equities research analysts forecast that Alcoa Corp. will post $2.80 EPS for the current fiscal year.

A number of equities research analysts have recently commented on the stock. Vetr downgraded shares of Alcoa Corp. from a “buy” rating to a “hold” rating and set a $37.78 price target for the company. in a report on Wednesday, March 1st. Goldman Sachs Group, Inc. (The) upgraded shares of Alcoa Corp. from a “neutral” rating to a “buy” rating in a research report on Monday, March 6th. Morgan Stanley increased their target price on shares of Alcoa Corp. from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, March 14th. Zacks Investment Research downgraded shares of Alcoa Corp. from a “strong-buy” rating to a “hold” rating in a report on Monday, April 3rd. Finally, BMO Capital Markets reissued a “hold” rating and issued a $35.00 price target on shares of Alcoa Corp. in a research report on Wednesday, March 22nd. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $36.50.

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About Alcoa Corp.

Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.

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