Braskem (NYSE:BAK) Sets New 1-Year Low – What’s Next?

Braskem S.A. (NYSE:BAK)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $3.70 and last traded at $3.80, with a volume of 1346108 shares trading hands. The stock had previously closed at $3.80.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BAK shares. UBS Group upgraded shares of Braskem from a “neutral” rating to a “buy” rating and raised their price target for the stock from $7.70 to $10.00 in a report on Wednesday, September 18th. JPMorgan Chase & Co. cut 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 Trading Up 1.6 %

The business’s 50-day simple moving average is $5.01 and its two-hundred day simple moving average is $6.05. 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 has a market capitalization of $1.54 billion, a price-to-earnings ratio of -1.09 and a beta of 1.98.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its stake in shares of Braskem by 329.1% in the third quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock valued at $1,298,000 after buying an additional 135,600 shares in the last quarter. Marshall Wace LLP grew 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 in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Braskem during the third quarter worth about $197,000. American Century Companies Inc. lifted its position 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. Finally, MBB Public Markets I LLC boosted 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.

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.