Short Interest in Braskem S.A. (NYSE:BAK) Expands By 25.2%

Braskem S.A. (NYSE:BAK) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 1,990,000 shares, an increase of 25.2% from the November 30th total of 1,590,000 shares. Based on an average daily volume of 814,800 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

BAK has been the topic of a number of recent research reports. UBS Group raised shares of Braskem from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.70 to $10.00 in a research report on Wednesday, September 18th. JPMorgan Chase & Co. decreased their price target on shares of Braskem from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th.

Institutional Investors Weigh In On Braskem

A number of large investors have recently added to or reduced their stakes in the company. MBB Public Markets I LLC boosted its position in Braskem by 69.5% in the 2nd quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company’s stock valued at $10,303,000 after buying an additional 654,806 shares during the last quarter. Walleye Capital LLC purchased a new position in Braskem in the third quarter valued at about $2,341,000. Marshall Wace LLP boosted its holdings in Braskem by 872.0% in the second quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock valued at $1,731,000 after purchasing an additional 240,744 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Braskem by 329.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock valued at $1,298,000 after purchasing an additional 135,600 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Braskem by 106.8% during the 3rd quarter. Jane Street Group LLC now owns 90,736 shares of the company’s stock worth $666,000 after purchasing an additional 46,858 shares during the last quarter.

Braskem Price Performance

NYSE BAK opened at $3.80 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.28 and a debt-to-equity ratio of 23.25. Braskem has a fifty-two week low of $3.70 and a fifty-two week high of $10.98. The business has a 50 day moving average price of $5.16 and a two-hundred day moving average price of $6.11. The stock has a market cap of $1.51 billion, a PE ratio of -1.07 and a beta of 1.98.

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.