Braskem (NYSE:BAK) Reaches New 52-Week Low – Here’s What Happened

Braskem S.A. (NYSE:BAK)’s share price reached a new 52-week low on Thursday . The company traded as low as $2.20 and last traded at $2.2340, with a volume of 93891 shares traded. The stock had previously closed at $2.26.

Analyst Ratings Changes

A number of research analysts recently issued reports on BAK shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Braskem in a report on Friday, July 17th. Citigroup downgraded Braskem from a “neutral” rating to a “sell” rating in a report on Thursday, June 25th. Zacks Research lowered Braskem from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Bradesco Corretora lowered Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 price target on the stock. in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. cut Braskem from an “overweight” rating to a “neutral” rating in a research note on Tuesday, June 30th. Three research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus price target of $3.40.

Braskem Stock Performance

The company’s 50-day moving average price is $2.81 and its 200-day moving average price is $3.57. The firm has a market capitalization of $918.77 million, a PE ratio of -0.55, a PEG ratio of 0.13 and a beta of 1.62.

Braskem (NYSE:BAK) last posted its earnings results on Thursday, May 14th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.21 by $0.48. Braskem had a negative return on equity of 23.17% and a negative net margin of 13.72%.The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.39 billion. As a group, analysts anticipate that Braskem S.A. will post 1.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in Braskem by 444.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock worth $25,000 after purchasing an additional 7,003 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Braskem by 222.1% in the fourth quarter. Quadrant Capital Group LLC now owns 12,809 shares of the company’s stock valued at $38,000 after purchasing an additional 8,832 shares during the last quarter. Signaturefd LLC increased its stake in Braskem by 50.1% in the fourth quarter. Signaturefd LLC now owns 13,524 shares of the company’s stock valued at $40,000 after purchasing an additional 4,513 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Braskem during the first quarter worth approximately $51,000. Finally, Evergreen Capital Management LLC acquired a new stake in Braskem during the fourth quarter worth approximately $44,000.

Braskem Company Profile

Braskem (NYSE:BAK) is a leading integrated petrochemical company based in São Paulo, Brazil, and holds the distinction of being the largest thermoplastic resins producer in Latin America. The company operates across the entire value chain, from feedstock sourcing and polymer production to distribution and recycling. Braskem’s comprehensive approach to petrochemical manufacturing enables it to serve a diverse set of end markets with a broad portfolio of products.

Braskem’s core product lines include polypropylene, polyethylene and polyvinyl chloride (PVC), which are used in industries such as packaging, automotive, construction and electrical & electronics.