Braskem (NYSE:BAK) Trading Down 3.3% – Should You Sell?

Braskem S.A. (NYSE:BAK) was down 3.3% during trading on Thursday . The company traded as low as $3.78 and last traded at $3.80. Approximately 136,581 shares traded hands during trading, a decline of 84% from the average daily volume of 843,888 shares. The stock had previously closed at $3.93.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BAK shares. JPMorgan Chase & Co. decreased their price objective on Braskem from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. UBS Group upgraded shares of Braskem from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $7.70 to $10.00 in a report on Wednesday, September 18th.

Braskem Trading Down 1.8 %

The company has a market cap of $1.54 billion, a P/E ratio of -1.09 and a beta of 1.99. The company has a quick ratio of 0.76, a current ratio of 1.28 and a debt-to-equity ratio of 23.25. The business has a fifty day moving average price of $5.26 and a 200-day moving average price of $6.15.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MBB Public Markets I LLC boosted its position in shares of Braskem by 69.5% during the 2nd quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company’s stock worth $10,303,000 after acquiring an additional 654,806 shares in the last quarter. Walleye Capital LLC bought a new position in Braskem in the third quarter valued at about $2,341,000. Marshall Wace LLP grew its holdings in shares of Braskem by 872.0% during the second quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock worth $1,731,000 after purchasing an additional 240,744 shares during the last quarter. State Street Corp raised its holdings in Braskem by 2.3% in the 3rd quarter. State Street Corp now owns 228,110 shares of the company’s stock valued at $1,674,000 after buying an additional 5,124 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Braskem by 329.1% during the third quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock worth $1,298,000 after purchasing an additional 135,600 shares during the period.

Braskem Company Profile

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through three segments: Brazil, United States and Europe, and Mexico. The Brazil segment produces and sells olefins, including ethylene, polymer and chemical grade propylene, butadiene, and butene-1; benzene, toluene, and xylenes products; fuels, such as automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl ether; intermediates, such as cumene; aliphatics, aromatics, and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.