Braskem S.A. (NYSE:BAK) reached a new 52-week high during trading on Monday . The company traded as high as $18.52 and last traded at $18.47, with a volume of 4472 shares changing hands. The stock had previously closed at $17.81.
BAK has been the topic of a number of recent analyst reports. Scotiabank cut shares of Braskem from an “outperform” rating to a “sector perform” rating in a research report on Friday, March 12th. JPMorgan Chase & Co. raised shares of Braskem from a “neutral” rating to an “overweight” rating and set a $14.00 target price on the stock in a research report on Wednesday, February 24th. Finally, Zacks Investment Research cut shares of Braskem from a “buy” rating to a “hold” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Braskem currently has an average rating of “Hold” and an average target price of $16.50.
The firm has a market cap of $7.47 billion, a price-to-earnings ratio of -3.30 and a beta of 1.36. The company’s 50-day moving average price is $13.77 and its 200-day moving average price is $10.31.
Several hedge funds have recently added to or reduced their stakes in BAK. State Street Corp increased its stake in shares of Braskem by 1.1% during the third quarter. State Street Corp now owns 427,202 shares of the company’s stock worth $3,191,000 after buying an additional 4,760 shares during the period. AQR Capital Management LLC increased its stake in shares of Braskem by 21.4% during the third quarter. AQR Capital Management LLC now owns 35,955 shares of the company’s stock worth $269,000 after buying an additional 6,337 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Braskem during the fourth quarter worth approximately $2,281,000. Trexquant Investment LP purchased a new stake in shares of Braskem during the fourth quarter worth approximately $222,000. Finally, Credit Agricole S A increased its stake in shares of Braskem by 33.3% during the fourth quarter. Credit Agricole S A now owns 8,000 shares of the company’s stock worth $72,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 0.46% of the company’s stock.
Braskem Company Profile (NYSE:BAK)
Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. It operates through five segments: Chemicals, Polyolefins, Vinyls, United States and Europe, and Mexico. The Chemicals segment produces and sells ethylene, propylene butadiene, toluene, xylene, cumene, and benzene, as well as gasoline, diesel and liquefied petroleum gas, and other petroleum derivatives; and supplies electric energy, steam, compressed air, and other inputs to second-generation producers.
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