Alcoa (AA) has been under a strong bear grip, hence the stock is down -3.21% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.01% in the past 1 week. The stock has risen by 0.98% in the past week indicating that the buyers are active at lower levels, but the stock is down -2.84% in the past 4 weeks.
Alcoa Inc. is up 13.06% in the last 3-month period. Year-to-Date the stock performance stands at 5.11%. The stock has recorded a 20-day Moving Average of 1.71% and the 50-Day Moving Average is 2.05%.
Alcoa (NYSE:AA): The stock opened at $10.34 on Friday but the bulls could not build on the opening and the stock topped out at $10.36 for the day. The stock traded down to $10.22 during the day, due to lack of any buying support eventually closed down at $10.27 with a loss of -1.72% for the day. The stock had closed at $10.45 on the previous day. The total traded volume was 13,163,790 shares.
Also, Major Brokerage house, Morgan Stanley maintains its ratings on Alcoa (NYSE:AA). In the latest research report, Morgan Stanley raises the target price from $11 per share to $12 per share. According to the latest information available, the shares are now rated Overweight by the analysts at the agency. The rating by the firm was issued on June 30, 2016.
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.