Alcoa Incorporated (NYSE:AA) Shorts Decreased by 0.12% After Short Covering


The stock of Alcoa Incorporated (NYSE:AA) registered a decrease of 0.12% in short interest. AA’s total short interest was 110.13 million shares in September as published by FINRA. Its down 0.12% from 110.26 million shares, reported previously. With 12.94 million shares average volume, it will take short sellers 9 days to cover their AA’s short positions. The short interest to Alcoa Incorporated’s float is 8.92%. About 1.90 million shares traded hands. Alcoa Inc (NYSE:AA) has risen 23.80% since February 8, 2016 and is uptrending. It has outperformed by 7.31% the S&P500.

Alcoa Inc. is engaged in lightweight metals engineering and manufacturing. The company has a market cap of $12.78 billion. The Firm operates in five divisions: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. It currently has negative earnings. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, gas and oil, and industrial applications.

The institutional sentiment decreased to 0.99 in 2016 Q2. Its down 0.04, from 1.03 in 2016Q1. The ratio worsened, as 47 funds sold all Alcoa Inc shares owned while 191 reduced positions. 51 funds bought stakes while 185 increased positions. They now own 775.17 million shares or 3.51% more from 748.92 million shares in 2016Q1.

Oak Hill Capital Management Llc holds 49.6% of its portfolio in Alcoa Inc for 26.09 million shares. D.C. Capital Advisors Ltd owns 1.00 million shares or 5.42% of their US portfolio. Moreover, Slate Path Capital Lp has 5.1% invested in the company for 7.04 million shares. The California-based First Pacific Advisors Llc has invested 5.04% in the stock. Kessler Investment Group Llc, a Indiana-based fund reported 287,490 shares.

Out of 17 analysts covering Alcoa Inc. (NYSE:AA), 10 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 59% are positive. $15 is the highest target while $9 is the lowest. The $11.81 average target is 23.79% above today’s ($9.54) stock price. Alcoa Inc. has been the topic of 25 analyst reports since September 29, 2015 according to StockzIntelligence Inc. Seaport Global initiated the stock on September 9 with “Neutral” rating. Credit Suisse initiated it with “Outperform” rating and $13 target price in a March 11 report. Bank of America upgraded the shares of AA in a report on May 23 to “Buy” rating. Cowen & Co maintained the firm’s rating on March 2. Cowen & Co has “Market Perform” rating and $10 price target. Lastly, Macquarie Research maintained the stock with “Outperform” rating in an April 6 report.

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