Alcoa Corp (NYSE: AA) Crashed -0.22%, What’s Next? Hint, Don’t Panic

Alcoa Corp (NYSE:AA) price on Friday, May 10, fall -0.22% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $37.28.

A look at the stock’s price movement, the level at last check in today’s session was $37.36. Turning to its 52-week performance, $38.20 and $23.07 were the 52-week high and 52-week low respectively. Overall, AA moved 2.89% over the past month.

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Alcoa Corp’s market cap currently stands at around $6.69 billion. The company has a Forward Dividend ratio of 0.40, with its dividend yield at 1.07%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.

Analysts have a consensus estimate of 2.72B for the company’s revenue for the quarter, with a low and high estimate of 2.58B and 2.87B respectively. The average forecast suggests up to a 1.10% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 10.91B, representing a 3.40% jump on that reported in the last financial year.

Turning to the stock’s technical picture we see that short term indicators suggest on average that AA is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.

AA’s current price about 2.92% and 10.74% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 58.12, while 7-day volatility ratio is 2.42% and 4.12% in the 30-day chart. Further, Alcoa Corp (AA) has a beta value of 2.42, and an average true range (ATR) of 1.40.

If we refocus on Alcoa Corp (NYSE:AA), historical trading data shows that trading volumes averaged 6.37 million over the past 3 months. The company’s latest data on shares outstanding shows there are 178.47 million shares.

The 1.20% of Alcoa Corp’s shares are in the hands of company insiders while institutional holders own 83.33% of the company’s shares. Current price change has pushed the stock 9.64% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the AA stock continues to rise going into the next quarter.

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