Braskem S.A. (NYSE:BAK) shares gapped down prior to trading on Wednesday . The stock had previously closed at $22.40, but opened at $21.93. Braskem shares last traded at $22.42, with a volume of 3,063 shares trading hands.
BAK has been the subject of a number of recent analyst reports. TheStreet upgraded shares of Braskem from a “d+” rating to a “c-” rating in a research report on Friday, May 21st. Zacks Investment Research cut shares of Braskem from a “buy” rating to a “sell” rating in a research report on Tuesday. HSBC restated a “hold” rating and issued a $20.00 price objective on shares of Braskem in a research report on Wednesday, April 28th. JPMorgan Chase & Co. upgraded shares of Braskem from a “neutral” rating to an “overweight” rating and set a $14.00 price objective for the company in a research report on Wednesday, February 24th. Finally, Scotiabank cut shares of Braskem from an “outperform” rating to a “sector perform” rating in a research report on Friday, March 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $19.00.
The business has a fifty day moving average price of $19.18. The stock has a market cap of $9.38 billion, a PE ratio of -84.00 and a beta of 1.59.
Several institutional investors have recently bought and sold shares of BAK. Renaissance Technologies LLC acquired a new position in shares of Braskem during the 4th quarter worth about $2,281,000. Trexquant Investment LP acquired a new position in shares of Braskem during the 4th quarter worth about $222,000. Credit Agricole S A boosted its stake in shares of Braskem by 33.3% during the 4th quarter. Credit Agricole S A now owns 8,000 shares of the company’s stock worth $72,000 after buying an additional 2,000 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Braskem during the 4th quarter worth about $119,000. Finally, Norges Bank acquired a new position in shares of Braskem during the 4th quarter worth about $1,802,000. Institutional investors own 0.37% of the company’s stock.
Braskem Company Profile (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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