Braskem (NYSE:BAK) Sets New 12-Month Low – What’s Next?

Braskem S.A. (NYSE:BAK) reached a new 52-week low during trading on Friday . The company traded as low as $4.47 and last traded at $4.49, with a volume of 556865 shares. The stock had previously closed at $4.78.

Wall Street Analysts Forecast Growth

BAK has been the topic of several research reports. UBS Group upgraded 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. JPMorgan Chase & Co. cut their target price on shares of Braskem from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. Finally, Citigroup raised shares of Braskem from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 20th.

Braskem Stock Down 6.7 %

The stock has a market capitalization of $2.01 billion, a PE ratio of -1.26 and a beta of 1.98. The company’s 50-day moving average is $5.77 and its 200 day moving average is $6.35. The company has a current ratio of 1.28, a quick ratio of 0.76 and a debt-to-equity ratio of 23.25.

Institutional Investors Weigh In On Braskem

Hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. boosted its stake in shares of Braskem by 329.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock worth $1,298,000 after acquiring an additional 135,600 shares in the last quarter. Marshall Wace LLP raised its position in shares of Braskem by 872.0% during the 2nd 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. Dynamic Technology Lab Private Ltd acquired a new position in shares of Braskem during the 3rd quarter worth about $197,000. American Century Companies Inc. raised its position in shares of Braskem by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock worth $722,000 after purchasing an additional 1,807 shares during the last quarter. Finally, MBB Public Markets I LLC raised 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 purchasing an additional 654,806 shares during the last quarter.

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.