Braskem (NYSE:BAK) Stock Price Down 3.5% – Should You Sell?

Braskem S.A. (NYSE:BAK) was down 3.5% during trading on Friday . The company traded as low as $3.85 and last traded at $3.86. Approximately 372,951 shares changed hands during trading, a decline of 48% from the average daily volume of 717,406 shares. The stock had previously closed at $4.00.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BAK. UBS Group raised shares of 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. decreased their price target on Braskem from $10.00 to $9.50 and set a “neutral” rating for the company in a research note on Tuesday, September 10th.

Braskem Price Performance

The stock has a market capitalization of $1.51 billion, a P/E ratio of -1.06 and a beta of 1.98. The company has a 50 day moving average of $4.92 and a 200-day moving average of $6.01. The company has a quick ratio of 0.76, a current ratio of 1.28 and a debt-to-equity ratio of 23.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in Braskem by 876.1% in the third quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company’s stock worth $40,000 after acquiring an additional 4,871 shares during the last quarter. MQS Management LLC acquired a new stake in shares of Braskem during the 3rd quarter worth approximately $77,000. Virtu Financial LLC bought a new stake in shares of Braskem in the 3rd quarter worth approximately $88,000. Verition Fund Management LLC acquired a new position in Braskem during the 3rd quarter valued at approximately $123,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Braskem during the 3rd quarter valued at approximately $197,000.

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.