Braskem S.A. (NYSE:BAK – Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $3.82 and last traded at $3.93, with a volume of 385920 shares traded. The stock had previously closed at $3.84.
Wall Street Analysts Forecast Growth
BAK has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price objective 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. UBS Group upgraded shares of Braskem from a “neutral” rating to a “buy” rating and raised their price objective for the company from $7.70 to $10.00 in a research report on Wednesday, September 18th.
Check Out Our Latest Analysis on BAK
Braskem Trading Down 2.3 %
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Point72 Asset Management L.P. lifted its stake in shares of Braskem by 329.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock valued at $1,298,000 after acquiring an additional 135,600 shares during the last quarter. Marshall Wace LLP increased its stake in Braskem by 872.0% in 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 period. Dynamic Technology Lab Private Ltd bought a new stake in Braskem in the third quarter valued at approximately $197,000. American Century Companies Inc. boosted its stake in shares of Braskem by 1.6% during the second quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock valued at $722,000 after purchasing an additional 1,807 shares during the period. Finally, MBB Public Markets I LLC grew its holdings in shares of Braskem by 69.5% in the second 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.
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.
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