Braskem (NYSE:BAK) Stock Price Down 3.3% – Should You Sell?

Braskem S.A. (NYSE:BAK)’s share price fell 3.3% during mid-day trading on Thursday . The company traded as low as $3.78 and last traded at $3.80. 136,581 shares were traded during mid-day trading, a decline of 84% from the average session volume of 843,888 shares. The stock had previously closed at $3.93.

Wall Street Analysts Forecast Growth

BAK has been the subject of several research reports. UBS Group raised shares of Braskem from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.70 to $10.00 in a report on Wednesday, September 18th. JPMorgan Chase & Co. decreased their target price 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 company has a debt-to-equity ratio of 23.25, a current ratio of 1.28 and a quick ratio of 0.76. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -1.07 and a beta of 1.98. The company has a 50-day simple moving average of $5.16 and a two-hundred day simple moving average of $6.11.

Institutional Trading of Braskem

Hedge funds have recently bought and sold shares of the company. MBB Public Markets I LLC increased 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 purchasing an additional 654,806 shares during the period. Walleye Capital LLC bought a new position in Braskem in the 3rd quarter worth approximately $2,341,000. Marshall Wace LLP increased its position in Braskem by 872.0% in the 2nd quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock valued at $1,731,000 after acquiring an additional 240,744 shares during the period. Point72 Asset Management L.P. raised its stake in Braskem by 329.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock valued at $1,298,000 after acquiring an additional 135,600 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Braskem by 106.8% during the 3rd quarter. Jane Street Group LLC now owns 90,736 shares of the company’s stock worth $666,000 after acquiring an additional 46,858 shares during the period.

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.