Alcoa (NYSE:AA) Short Interest Down 19.5% in March

Key Points

• Short interest in Alcoa fell 19.5% in March to 6,935,656 shares (about 2.6% of shares shorted) with a days‑to‑cover ratio of 1.1, signaling reduced bearish positioning.
• Q1 results were mixed: adjusted EPS modestly beat expectations ($1.40 vs. $1.36) but revenue missed ($3.19B vs. $3.35B) and margins and operating cash flow were pressured, although rising aluminum prices may help near‑term profitability.
• Analysts are divided with a MarketBeat consensus rating of Hold and a $61.73 consensus price target, even as some firms raised targets (BMO to $75, JPMorgan to $70) and several large institutions materially increased their stakes.

Alcoa (NYSE:AA - Get Free Report) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 6,935,656 shares, a decrease of 19.5% from the March 15th total of 8,612,080 shares. Based on an average daily trading volume, of 6,603,125 shares, the days-to-cover ratio is currently 1.1 days. Currently, 2.6% of the company's stock are short sold.

Analyst Ratings Changes

A number of research firms have recently commented on AA. BMO Capital Markets increased their price target on shares of Alcoa from $65.00 to $75.00 and gave the company a "market perform" rating in a report on Thursday, April 9th. Zacks Research upgraded shares of Alcoa from a "hold" rating to a "strong-buy" rating in a report on Friday, April 10th. Wells Fargo & Company set a $68.00 price target on shares of Alcoa in a report on Thursday, March 12th. JPMorgan Chase & Co. increased their price target on shares of Alcoa from $68.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, April 9th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Alcoa in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $61.73.

Hedge Funds Weigh In On Alcoa

Several institutional investors have recently bought and sold shares of the stock. Mirabella Financial Services LLP grew its stake in shares of Alcoa by 12,233.1% in the 3rd quarter. Mirabella Financial Services LLP now owns 40,082,462 shares of the industrial products company's stock worth $1,318,312,000 after buying an additional 39,757,462 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Alcoa by 211.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company's stock worth $332,338,000 after buying an additional 4,247,559 shares in the last quarter. Castle Hook Partners LP purchased a new position in shares of Alcoa in the 4th quarter worth $210,874,000. Maple Rock Capital Partners Inc. purchased a new position in shares of Alcoa in the 4th quarter worth $173,412,000. Finally, AQR Capital Management LLC grew its stake in shares of Alcoa by 153.4% in the 4th quarter. AQR Capital Management LLC now owns 4,134,425 shares of the industrial products company's stock worth $219,703,000 after buying an additional 2,503,132 shares in the last quarter.

Alcoa News Summary

Here are the key news stories impacting Alcoa this week:

• Positive Sentiment: Higher aluminum prices are supporting profitability — commodity moves near four‑year highs improve the outlook for Alcoa's realized pricing and margins. As Aluminum Prices Hit 4-Year Highs, Should You Buy Alcoa Stock?
• Positive Sentiment: Adjusted EPS modestly beat consensus (Alcoa reported $1.40 adj. EPS vs. Wall Street estimates nearer $1.36), which is a partial offset to the revenue shortfall. Alcoa (AA) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
• Positive Sentiment: Management tone: CEO William Oplinger told media the company is “expecting a better second quarter,” which could reassure investors about sequential improvement. Alcoa CEO on Q1 results: Company is 'expecting a better second quarter'
• Neutral Sentiment: Analyst views and targets are mixed but generally elevated (median recent target ~$75); keep an eye on revisions after the quarter. Alcoa Corporation (AA) Stock Falls on Q1 2026 Earnings
• Neutral Sentiment: Company release and slide deck outline results and commentary — useful for checking management’s details on volumes, pricing and capex. Alcoa Corporation Reports First Quarter 2026 Results
• Negative Sentiment: Revenue missed expectations — Q1 revenue was roughly $3.19B (down ~5% y/y) and below consensus, which drove the immediate selloff. Alcoa falls 5% as Q1 earnings and revenue miss estimates
• Negative Sentiment: Margins and operating metrics showed pressure — gross and operating profit declined year over year and operating cash flow was negative, raising short‑term liquidity/operational questions. Alcoa Corporation (AA) Stock Falls on Q1 2026 Earnings
• Negative Sentiment: Geopolitical headwind: Alcoa flagged an estimated ~$15M unfavorable impact to adjusted earnings from the Iran conflict, a modest but tangible near‑term drag. Alcoa Profit, Sales Fall on Lower Shipments

Alcoa Price Performance

Shares of AA stock traded up $0.15 on Thursday, hitting $70.53. 6,253,734 shares of the stock traded hands, compared to its average volume of 5,733,284. The firm has a market cap of $18.61 billion, a price-to-earnings ratio of 15.96 and a beta of 1.70. Alcoa has a 52 week low of $22.68 and a 52 week high of $75.70. The firm has a 50 day simple moving average of $63.89 and a two-hundred day simple moving average of $52.49. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.44 and a quick ratio of 0.87.

Alcoa (NYSE:AA - Get Free Report) last posted its earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.04. The company had revenue of $3.19 billion during the quarter, compared to analysts' expectations of $3.35 billion. Alcoa had a net margin of 9.12% and a return on equity of 16.19%. Alcoa's quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the company posted $2.15 earnings per share. As a group, equities research analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 10th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, March 10th. Alcoa's dividend payout ratio (DPR) is presently 9.05%.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company's operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa's product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.

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