Braskem (NYSE:BAK) Shares Up 2.6%

Shares of Braskem S.A. (NYSE:BAK) shot up 2.6% during mid-day trading on Friday . The stock traded as high as $6.70 and last traded at $6.68. 979,923 shares were traded during trading, an increase of 15% from the average session volume of 850,527 shares. The stock had previously closed at $6.51.

Analysts Set New Price Targets

BAK has been the subject of several research reports. Citigroup raised Braskem from a “neutral” rating to a “buy” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. reduced their price objective on Braskem from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, May 24th.

Braskem Stock Performance

The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 23.25. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of -2.11 and a beta of 2.02. The stock’s 50 day moving average is $6.43 and its two-hundred day moving average is $7.62.

Braskem (NYSE:BAK) last announced its earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.30. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.56 billion. Braskem had a negative net margin of 12.98% and a negative return on equity of 276.59%. Analysts anticipate that Braskem S.A. will post -1.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jump Financial LLC boosted its holdings in shares of Braskem by 4.3% in the fourth quarter. Jump Financial LLC now owns 67,392 shares of the company’s stock valued at $594,000 after acquiring an additional 2,790 shares in the last quarter. Trexquant Investment LP boosted its holdings in Braskem by 197.1% in the 4th quarter. Trexquant Investment LP now owns 141,852 shares of the company’s stock valued at $1,251,000 after purchasing an additional 94,099 shares in the last quarter. SPX Gestao de Recursos Ltda increased its position in Braskem by 266.9% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 239,536 shares of the company’s stock worth $2,113,000 after purchasing an additional 174,250 shares during the period. Boston Partners acquired a new position in Braskem during the 1st quarter worth approximately $627,000. Finally, American Century Companies Inc. raised its stake in shares of Braskem by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock worth $722,000 after buying an additional 1,807 shares in the last quarter.

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.