Alcoa (AA): Price Target and June Short Interest Disclosure

Alcoa (AA) has been rated by 11 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $14 and the lowest price target forecast is $8. The average forecast of all the analysts is $11.09 and the expected standard deviation is $1.97.

Alcoa (AA) has witnessed a drop of 2.5% or 3,175,115 shares in its short figure. The short interest diminution took it from 124,615,439 on June 15,2016 to 121,440,324 on June 30,2016. In terms of floated shares, the short interest was calculated to be 9.5%. The days to cover are 5 given that the daily volume averaged 22,680,906 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity analysts at the Brokerage firm Morgan Stanley maintains its rating on Alcoa (NYSE:AA). The rating major has initiated the coverage with overweight rating on the shares. The Analysts at Morgan Stanley raises the price target from $11 per share to $12 per share. The rating by the firm was issued on June 30, 2016.


Alcoa (NYSE:AA): The stock was completely flat for the day, closing at $10.71 on Thursday. The flat closing masks the intraday volatility in the stock. After opening at $10.82, the stock touched an intraday high of $10.90 and a low of $10.67. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $10.71. The total trading volume on Thursday was 22,346,834.

Alcoa Inc. (Alcoa) is engaged in lightweight metals engineering and manufacturing. The Company operates in four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions. Its products, which include aluminum, titanium and nickel, are used in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, consumer electronics, and industrial applications across the world. It also produces and manages primary aluminum, fabricated aluminum and alumina combined, through its active participation in the aspects of the industry, including technology, mining, refining, smelting, fabricating, and recycling. The Company has investments and operating activities in Australia, Brazil, China, Guinea, Iceland, Russia and Saudi Arabia, among others. It produces three dimensional (3D-printed) titanium, specialty metals and plastic parts for aerospace, medical and energy applications.

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