Jane Street Group LLC Has $666,000 Position in Braskem S.A. (NYSE:BAK)

Jane Street Group LLC increased its stake in shares of Braskem S.A. (NYSE:BAK) by 106.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,736 shares of the company’s stock after purchasing an additional 46,858 shares during the quarter. Jane Street Group LLC’s holdings in Braskem were worth $666,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of Braskem by 2.3% during the third quarter. State Street Corp now owns 228,110 shares of the company’s stock worth $1,674,000 after buying an additional 5,124 shares in the last quarter. Point72 Asset Management L.P. grew its position in Braskem by 329.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock worth $1,298,000 after acquiring an additional 135,600 shares during the last quarter. Verition Fund Management LLC acquired a new position in Braskem in the 3rd quarter worth about $123,000. Walleye Capital LLC bought a new position in Braskem in the third quarter valued at about $2,341,000. Finally, Quantbot Technologies LP boosted its stake in shares of Braskem by 174.9% during the third quarter. Quantbot Technologies LP now owns 71,952 shares of the company’s stock valued at $528,000 after purchasing an additional 45,782 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group raised Braskem from a “neutral” rating to a “buy” rating and upped their price objective for the company from $7.70 to $10.00 in a research note on Wednesday, September 18th. JPMorgan Chase & Co. decreased their price target on shares of Braskem from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th.

Braskem Trading Down 5.5 %

NYSE BAK opened at $3.78 on Friday. The firm has a market capitalization of $1.51 billion, a PE ratio of -1.06 and a beta of 1.98. The business’s 50-day moving average price is $4.97 and its two-hundred day moving average price is $6.03. The company has a current ratio of 1.28, a quick ratio of 0.76 and a debt-to-equity ratio of 23.25. Braskem S.A. has a 12 month low of $3.70 and a 12 month high of $10.98.

Braskem 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.