Centiva Capital LP Sells 150,800 Shares of Braskem S.A. (NYSE:BAK)

Centiva Capital LP lowered its position in shares of Braskem S.A. (NYSE:BAK) by 72.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 55,927 shares of the company’s stock after selling 150,800 shares during the quarter. Centiva Capital LP’s holdings in Braskem were worth $411,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BAK. Verition Fund Management LLC bought a new stake in Braskem in the 3rd quarter worth approximately $123,000. Walleye Capital LLC bought a new stake in Braskem in the 3rd quarter worth approximately $2,341,000. Quantbot Technologies LP grew its position in 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 period. Dynamic Technology Lab Private Ltd bought a new stake in Braskem in the 3rd quarter worth approximately $197,000. Finally, MQS Management LLC bought a new stake in Braskem in the 3rd quarter worth approximately $77,000.

Braskem Trading Up 0.2 %

Shares of BAK stock opened at $4.83 on Tuesday. Braskem S.A. has a 1 year low of $4.68 and a 1 year high of $10.98. The firm has a fifty day moving average price of $5.96 and a 200-day moving average price of $6.41. 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 company has a market cap of $2.18 billion, a price-to-earnings ratio of -1.36 and a beta of 1.98.

Analyst Ratings Changes

A number of equities research analysts have commented on BAK shares. JPMorgan Chase & Co. cut their target price 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. Citigroup raised shares of Braskem from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 20th. Finally, UBS Group raised shares of Braskem from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $7.70 to $10.00 in a research report on Wednesday, September 18th.

About Braskem

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.