Braskem (NYSE:BAK) Sets New 1-Year Low – Time to Sell?

Braskem S.A. (NYSE:BAK)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $3.82 and last traded at $3.93, with a volume of 385920 shares changing hands. The stock had previously closed at $3.84.

Wall Street Analysts Forecast Growth

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

Braskem Price Performance

The stock has a market capitalization of $1.57 billion, a P/E ratio of -1.11 and a beta of 1.99. The business has a fifty day simple moving average of $5.37 and a 200 day simple moving average of $6.18. The company has a current ratio of 1.28, a quick ratio of 0.76 and a debt-to-equity ratio of 23.25.

Institutional Investors Weigh In On Braskem

Several institutional investors have recently bought and sold shares of BAK. MQS Management LLC bought a new position in Braskem during the 3rd quarter valued at $77,000. Virtu Financial LLC bought a new position in shares of Braskem during the third quarter valued at about $88,000. Verition Fund Management LLC purchased a new position in Braskem during the third quarter worth about $123,000. Dynamic Technology Lab Private Ltd bought a new stake in Braskem in the 3rd quarter worth about $197,000. Finally, Point72 Asset Management L.P. increased its stake in Braskem by 60.9% in 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 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.