Braskem (NYSE:BAK) Shares Down 4.2% – What’s Next?

Shares of Braskem S.A. (NYSE:BAK) were down 4.2% during trading on Friday . The stock traded as low as $3.83 and last traded at $3.79. Approximately 13,550 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 782,910 shares. The stock had previously closed at $3.95.

Analyst Upgrades and Downgrades

Separately, Scotiabank cut shares of Braskem from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, March 3rd.

Braskem Trading Down 8.4 %

The company has a market capitalization of $1.44 billion, a PE ratio of -1.02 and a beta of 1.83. The business has a fifty day moving average of $3.64 and a 200 day moving average of $4.32.

Braskem (NYSE:BAK) last announced its earnings results on Thursday, February 27th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.01). The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.52 billion. Braskem had a negative return on equity of 439.59% and a negative net margin of 9.88%. Equities analysts forecast that Braskem S.A. will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Braskem

Institutional investors and hedge funds have recently made changes to their positions in the stock. R Squared Ltd grew its position in shares of Braskem by 55.2% in the 1st quarter. R Squared Ltd now owns 17,600 shares of the company’s stock valued at $68,000 after buying an additional 6,260 shares during the last quarter. Kapitalo Investimentos Ltda increased its position in Braskem by 1,136,346.5% in the 1st quarter. Kapitalo Investimentos Ltda now owns 1,466,016 shares of the company’s stock valued at $5,644,000 after acquiring an additional 1,465,887 shares during the period. Ballentine Partners LLC purchased a new stake in Braskem during the 1st quarter valued at approximately $58,000. GAMMA Investing LLC lifted its position in Braskem by 654.9% during the 1st quarter. GAMMA Investing LLC now owns 19,824 shares of the company’s stock worth $76,000 after acquiring an additional 17,198 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Braskem in the 4th quarter valued at approximately $164,000.

Braskem Company Profile

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.