Braskem (NYSE:BAK) Reaches New 12-Month Low – Should You Sell?

Braskem S.A. (NYSE:BAK) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $3.70 and last traded at $3.80, with a volume of 1346108 shares traded. The stock had previously closed at $3.80.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on 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 raised shares of Braskem from a “neutral” rating to a “buy” rating and raised their target price for the company from $7.70 to $10.00 in a report on Wednesday, September 18th.

Braskem Stock Performance

The stock has a fifty day simple moving average of $5.16 and a two-hundred day simple moving average of $6.11. The company has a debt-to-equity ratio of 23.25, a quick ratio of 0.76 and a current ratio of 1.28. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -1.07 and a beta of 1.98.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of Braskem by 876.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company’s stock valued at $40,000 after purchasing an additional 4,871 shares in the last quarter. Virtu Financial LLC acquired a new stake in Braskem in the third quarter valued at approximately $88,000. Jane Street Group LLC grew its stake in shares of Braskem by 106.8% during the third quarter. Jane Street Group LLC now owns 90,736 shares of the company’s stock worth $666,000 after buying an additional 46,858 shares during the last quarter. State Street Corp increased its holdings in shares of Braskem by 2.3% during the third quarter. State Street Corp now owns 228,110 shares of the company’s stock worth $1,674,000 after buying an additional 5,124 shares in the last quarter. Finally, 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.

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.