Braskem (NYSE:BAK) Trading Up 1.2%

Braskem S.A. (NYSE:BAK)’s share price traded up 1.2% on Monday . The stock traded as high as $8.80 and last traded at $8.76. 599,930 shares were traded during trading, a decline of 40% from the average session volume of 1,002,539 shares. The stock had previously closed at $8.65.

Braskem Trading Down 1.0 %

The company has a debt-to-equity ratio of 16.23, a current ratio of 1.53 and a quick ratio of 1.02. The business has a 50-day moving average price of $9.06 and a 200 day moving average price of $8.13.

Braskem (NYSE:BAK) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.25). Braskem had a negative return on equity of 87.01% and a negative net margin of 6.61%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.50 billion. As a group, analysts forecast that Braskem S.A. will post -0.99 earnings per share for the current fiscal year.

Institutional Trading of Braskem

A number of hedge funds have recently made changes to their positions in BAK. SPX Gestao de Recursos Ltda raised its holdings in Braskem by 266.9% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 239,536 shares of the company’s stock worth $2,113,000 after acquiring an additional 174,250 shares during the last quarter. Centric Wealth Management purchased a new position in Braskem in the 3rd quarter worth approximately $1,321,000. Trexquant Investment LP raised its holdings in Braskem by 197.1% in the 4th quarter. Trexquant Investment LP now owns 141,852 shares of the company’s stock worth $1,251,000 after acquiring an additional 94,099 shares during the last quarter. Optiver Holding B.V. raised its holdings in Braskem by 16.8% in the 3rd quarter. Optiver Holding B.V. now owns 417,432 shares of the company’s stock worth $3,427,000 after acquiring an additional 59,916 shares during the last quarter. Finally, Alpine Global Management LLC purchased a new position in Braskem in the 3rd quarter worth approximately $82,000.

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.