Braskem (NYSE:BAK) Trading Down 5.4% – Time to Sell?
by Mitch Edgeman · The Markets DailyBraskem S.A. (NYSE:BAK – Get Free Report) shares traded down 5.4% during mid-day trading on Monday . The stock traded as low as $3.43 and last traded at $3.4150. 829,477 shares were traded during trading, a decline of 65% from the average session volume of 2,400,646 shares. The stock had previously closed at $3.61.
Analysts Set New Price Targets
A number of analysts have recently issued reports on BAK shares. Citigroup upgraded Braskem from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. Zacks Research raised shares of Braskem from a “hold” rating to a “strong-buy” rating in a report on Monday. Bank of America lowered shares of Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 target price on the stock. in a research report on Thursday, March 26th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Braskem in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $3.87.
Read Our Latest Stock Report on Braskem
Braskem Trading Up 3.0%
The company has a 50 day moving average of $3.96 and a 200 day moving average of $3.24. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -0.79 and a beta of 1.74.
Braskem (NYSE:BAK – Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The company reported ($2.33) earnings per share (EPS) for the quarter. Braskem had a negative net margin of 14.53% and a negative return on equity of 21.95%. The company had revenue of $2.56 billion for the quarter. As a group, sell-side analysts anticipate that Braskem S.A. will post -0.77 EPS for the current fiscal year.
Institutional Trading of Braskem
Several large investors have recently added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in shares of Braskem by 50.1% during the fourth quarter. Signaturefd LLC now owns 13,524 shares of the company’s stock worth $40,000 after buying an additional 4,513 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Braskem by 444.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock worth $25,000 after acquiring an additional 7,003 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Braskem by 222.1% during the 4th quarter. Quadrant Capital Group LLC now owns 12,809 shares of the company’s stock valued at $38,000 after purchasing an additional 8,832 shares in the last quarter. Virtu Financial LLC raised its position in Braskem by 28.7% in the 3rd quarter. Virtu Financial LLC now owns 44,587 shares of the company’s stock valued at $108,000 after purchasing an additional 9,938 shares during the last quarter. Finally, Ballentine Partners LLC bought a new position in Braskem in the 3rd quarter valued at $34,000.
Braskem Company Profile
Braskem (NYSE:BAK) is a leading integrated petrochemical company based in São Paulo, Brazil, and holds the distinction of being the largest thermoplastic resins producer in Latin America. The company operates across the entire value chain, from feedstock sourcing and polymer production to distribution and recycling. Braskem’s comprehensive approach to petrochemical manufacturing enables it to serve a diverse set of end markets with a broad portfolio of products.
Braskem’s core product lines include polypropylene, polyethylene and polyvinyl chloride (PVC), which are used in industries such as packaging, automotive, construction and electrical & electronics.