16,719 Shares in Braskem S.A. (NYSE:BAK) Bought by Verition Fund Management LLC

Verition Fund Management LLC acquired a new stake in Braskem S.A. (NYSE:BAK) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,719 shares of the company’s stock, valued at approximately $123,000.

Other large investors also recently modified their holdings of the company. MQS Management LLC acquired a new stake in shares of Braskem during the third quarter worth approximately $77,000. Dynamic Technology Lab Private Ltd bought a new position in Braskem during the 3rd quarter valued at $197,000. Point72 Asset Management L.P. grew its holdings in Braskem by 60.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 41,200 shares of the company’s stock worth $266,000 after acquiring an additional 15,600 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Braskem by 174.9% in the 3rd quarter. Quantbot Technologies LP now owns 71,952 shares of the company’s stock worth $528,000 after purchasing an additional 45,782 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Braskem by 1.6% in the 2nd quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock valued at $722,000 after purchasing an additional 1,807 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Braskem Stock Down 3.0 %

BAK stock opened at $4.14 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. The firm’s 50-day simple moving average is $5.64 and its 200 day simple moving average is $6.29. The stock has a market cap of $1.87 billion, a PE ratio of -1.17 and a beta of 1.98. Braskem S.A. has a fifty-two week low of $4.07 and a fifty-two week high of $10.98.

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.