Braskem (NYSE:BAK) Shares Gap Up – Here’s What Happened

Braskem S.A. (NYSE:BAK)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $4.17, but opened at $4.58. Braskem shares last traded at $4.79, with a volume of 686,240 shares.

Braskem Stock Up 15.2 %

The firm’s 50-day simple moving average is $4.48 and its 200 day simple moving average is $5.80. The firm has a market cap of $1.92 billion, a P/E ratio of -1.35 and a beta of 2.01.

Institutional Trading of Braskem

Institutional investors have recently modified their holdings of the business. MBB Public Markets I LLC increased its position in shares of Braskem by 69.5% during the second quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company’s stock valued at $10,303,000 after buying an additional 654,806 shares during the period. Walleye Capital LLC purchased a new stake in shares of Braskem in the third quarter worth $2,341,000. Marshall Wace LLP grew its position in 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 buying an additional 240,744 shares in the last quarter. State Street Corp raised its holdings in shares of 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 acquiring an additional 5,124 shares in the last quarter. Finally, Point72 Asset Management L.P. grew 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 in the last quarter.

About Braskem

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.