Braskem (NYSE:BAK) Hits New 12-Month Low – Time to Sell?

Braskem S.A. (NYSE:BAKGet 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 %

The stock has a fifty day moving average of $5.21 and a two-hundred day moving average of $6.13. The company has a market capitalization of $1.53 billion, a PE ratio of -1.08 and a beta of 1.99. 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 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

(Get Free Report)

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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