Braskem (NYSE:BAK) Hits New 52-Week Low at $6.30

Braskem S.A. (NYSE:BAK) shares reached a new 52-week low on Monday . The company traded as low as $6.30 and last traded at $6.31, with a volume of 380861 shares changing hands. The stock had previously closed at $6.45.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their target price on shares of Braskem from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th.

Braskem Price Performance

The company has a quick ratio of 0.95, a current ratio of 1.46 and a debt-to-equity ratio of 23.25. The firm has a market capitalization of $2.85 billion, a PE ratio of -2.00 and a beta of 1.98. The stock has a 50-day moving average price of $7.44 and a 200 day moving average price of $8.08.

Braskem (NYSE:BAK) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.12). The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.54 billion. Braskem had a negative net margin of 8.98% and a negative return on equity of 146.26%. Equities analysts forecast that Braskem S.A. will post -1.47 EPS for the current fiscal year.

Institutional Trading of Braskem

Several institutional investors have recently modified their holdings of BAK. Alpine Global Management LLC acquired a new position in shares of Braskem during the 3rd quarter worth about $82,000. Trexquant Investment LP increased its stake in Braskem by 12.5% during the 3rd quarter. Trexquant Investment LP now owns 47,753 shares of the company’s stock worth $392,000 after buying an additional 5,294 shares in the last quarter. Jump Financial LLC increased its stake in Braskem by 4.3% during the 4th quarter. Jump Financial LLC now owns 67,392 shares of the company’s stock worth $594,000 after buying an additional 2,790 shares in the last quarter. Boston Partners acquired a new position in shares of Braskem during the first quarter valued at approximately $627,000. Finally, SPX Gestao de Recursos Ltda lifted its position in shares of Braskem by 266.9% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 239,536 shares of the company’s stock valued at $2,113,000 after acquiring an additional 174,250 shares in the last quarter.

About Braskem

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.