Tower Research Capital LLC TRC raised its position in Braskem S.A. (NYSE:BAK) by 10,474.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,574 shares of the energy company’s stock after acquiring an additional 10,474 shares during the period. Tower Research Capital LLC TRC’s holdings in Braskem were worth $219,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. UBS Group AG boosted its stake in Braskem by 5.2% in the first quarter. UBS Group AG now owns 6,010 shares of the energy company’s stock valued at $122,000 after acquiring an additional 297 shares in the last quarter. Citigroup Inc. boosted its stake in Braskem by 168.5% in the second quarter. Citigroup Inc. now owns 8,217 shares of the energy company’s stock valued at $170,000 after acquiring an additional 5,157 shares in the last quarter. Comerica Bank boosted its stake in Braskem by 1.5% in the first quarter. Comerica Bank now owns 9,889 shares of the energy company’s stock valued at $211,000 after acquiring an additional 147 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Braskem in the second quarter valued at approximately $246,000. Finally, Envestnet Asset Management Inc. boosted its stake in Braskem by 0.9% in the first quarter. Envestnet Asset Management Inc. now owns 16,065 shares of the energy company’s stock valued at $326,000 after acquiring an additional 139 shares in the last quarter. Institutional investors own 0.66% of the company’s stock.
Braskem S.A. (NYSE:BAK) traded up 0.59% on Wednesday, hitting $28.76. 53,785 shares of the company’s stock were exchanged. Braskem S.A. has a 12-month low of $15.26 and a 12-month high of $29.14. The company’s market cap is $4.96 billion. The company’s 50-day moving average price is $26.25 and its 200-day moving average price is $22.80.
Several brokerages have weighed in on BAK. BidaskClub downgraded shares of Braskem from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research downgraded shares of Braskem from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, Morgan Stanley upgraded shares of Braskem from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 17th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $20.00.
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Braskem SA produces thermoplastic resins. The Company’s segments are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, the provision of industrial services, and the production, supply and sale of electric energy.
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