Short Interest in Braskem S.A. (NYSE:BAK) Rises By 19.2%

Braskem S.A. (NYSE:BAK) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,860,000 shares, an increase of 19.2% from the October 31st total of 1,560,000 shares. Based on an average daily trading volume, of 675,500 shares, the short-interest ratio is currently 2.8 days.

Institutional Trading of Braskem

A number of institutional investors have recently modified their holdings of the company. Boston Partners purchased a new stake in Braskem during the 1st quarter worth $627,000. American Century Companies Inc. lifted 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 worth $722,000 after purchasing an additional 1,807 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Braskem by 872.0% in the second quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock worth $1,731,000 after buying an additional 240,744 shares during the period. MBB Public Markets I LLC grew its stake 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 valued at $10,303,000 after buying an additional 654,806 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Braskem by 60.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 41,200 shares of the company’s stock valued at $266,000 after buying an additional 15,600 shares during the period.

Braskem Price Performance

Shares of NYSE:BAK opened at $5.12 on Tuesday. The business has a 50-day moving average of $6.19 and a two-hundred day moving average of $6.50. The company has a debt-to-equity ratio of 23.25, a quick ratio of 0.76 and a current ratio of 1.28. Braskem has a 12 month low of $4.68 and a 12 month high of $10.98.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BAK shares. Citigroup raised shares of Braskem from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 20th. UBS Group upgraded shares of Braskem from a “neutral” rating to a “buy” rating and boosted their target price for the company from $7.70 to $10.00 in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. cut their price target on shares of Braskem from $10.00 to $9.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 10th.

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.