Braskem (NYSE:BAK) Stock Price Down 6.1% – What’s Next?

Braskem S.A. (NYSE:BAK)’s share price traded down 6.1% during trading on Wednesday . The company traded as low as $3.81 and last traded at $3.7550. 549,282 shares were traded during trading, a decline of 78% from the average session volume of 2,492,759 shares. The stock had previously closed at $4.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Braskem in a report on Wednesday, January 21st. Citigroup raised Braskem from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 1st. Zacks Research raised Braskem from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Finally, Bank of America cut Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 price target for the company. in a report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $3.87.

Braskem Stock Down 6.9%

The company has a market capitalization of $1.48 billion, a PE ratio of -0.81 and a beta of 1.74. The firm has a 50-day moving average of $3.98 and a two-hundred day moving average of $3.27.

Braskem (NYSE:BAK) last issued its quarterly earnings data on Saturday, February 14th. The company reported ($2.33) earnings per share for the quarter. The business had revenue of $2.56 billion during the quarter. Braskem had a negative return on equity of 21.95% and a negative net margin of 14.53%. On average, equities research analysts expect that Braskem S.A. will post -0.77 EPS for the current year.

Institutional Trading of Braskem

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in Braskem by 444.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock worth $25,000 after acquiring an additional 7,003 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Braskem in the third quarter valued at $34,000. Quadrant Capital Group LLC raised 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 buying an additional 8,832 shares in the last quarter. Signaturefd LLC boosted its position in shares of Braskem by 50.1% during the 4th quarter. Signaturefd LLC now owns 13,524 shares of the company’s stock worth $40,000 after acquiring an additional 4,513 shares in the last quarter. Finally, Evergreen Capital Management LLC acquired a new stake in shares of Braskem during the 4th quarter worth about $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.