Braskem (NYSE:BAK) Shares Down 6.7%

Braskem S.A. (NYSE:BAKGet Rating)’s stock price fell 6.7% on Tuesday . The stock traded as low as $13.15 and last traded at $13.17. 3,101 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 183,854 shares. The stock had previously closed at $14.12.

Separately, TheStreet upgraded shares of Braskem from a “c” rating to a “b” rating in a research report on Thursday, May 12th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Braskem presently has a consensus rating of “Moderate Buy” and an average price target of $32.40.

The company has a market capitalization of $5.91 billion, a P/E ratio of 1.79, a P/E/G ratio of 0.53 and a beta of 1.74. The business’s 50-day simple moving average is $16.56 and its 200 day simple moving average is $18.12. The company has a current ratio of 1.63, a quick ratio of 0.94 and a debt-to-equity ratio of 4.11.

Braskem (NYSE:BAKGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.20. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Braskem had a net margin of 14.18% and a return on equity of 156.07%. As a group, sell-side analysts predict that Braskem S.A. will post 2.74 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Holdings Inc. lifted its stake in Braskem by 156.6% in the first quarter. Advisor Group Holdings Inc. now owns 1,740 shares of the company’s stock valued at $33,000 after acquiring an additional 1,062 shares during the last quarter. Bank of America Corp DE increased its position in Braskem by 55.0% during the first quarter. Bank of America Corp DE now owns 8,700 shares of the company’s stock worth $162,000 after acquiring an additional 3,087 shares during the period. Quantbot Technologies LP increased its position in Braskem by 309.0% during the first quarter. Quantbot Technologies LP now owns 9,854 shares of the company’s stock worth $183,000 after acquiring an additional 7,445 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Braskem during the fourth quarter worth $185,000. Finally, Cetera Advisors LLC bought a new position in Braskem during the first quarter worth $195,000. 0.25% of the stock is currently owned by institutional investors.

About Braskem (NYSE:BAK)

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 chemicals, including ethylene, polymer and chemical grade propylene, butadiene, 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.

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