Short Interest in Alcoa Co. (NYSE:AA) Rises By 10.3%

Alcoa Co. (NYSE:AA - Get Free Report) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 9,090,000 shares, an increase of 10.3% from the January 15th total of 8,240,000 shares. Based on an average daily volume of 4,590,000 shares, the short-interest ratio is currently 2.0 days.

Hedge Funds Weigh In On Alcoa

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ballentine Partners LLC increased its position in shares of Alcoa by 3.2% during the fourth quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company's stock valued at $339,000 after acquiring an additional 279 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Alcoa by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company's stock valued at $1,988,000 after buying an additional 300 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Alcoa by 5.3% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company's stock valued at $246,000 after buying an additional 328 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Alcoa by 3.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company's stock valued at $365,000 after buying an additional 339 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Alcoa by 12.0% in the third quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company's stock valued at $128,000 after buying an additional 344 shares in the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

Alcoa Stock Performance

Alcoa stock traded down $0.32 during trading hours on Wednesday, hitting $35.92. 2,218,768 shares of the stock traded hands, compared to its average volume of 5,342,985. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The firm's 50 day moving average price is $38.80 and its 200-day moving average price is $37.51. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of -224.71, a P/E/G ratio of 0.20 and a beta of 2.43. Alcoa has a 1 year low of $24.86 and a 1 year high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. As a group, equities analysts expect that Alcoa will post 4.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AA. Argus upgraded shares of Alcoa from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a research note on Wednesday, October 23rd. Morgan Stanley dropped their price target on Alcoa from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. UBS Group increased their target price on shares of Alcoa from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. increased their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Finally, BMO Capital Markets increased their target price on Alcoa to $43.00 and gave the company a "hold" rating in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $46.55.

Alcoa Company Profile

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.