Braskem (NYSE:BAK) Hits New 12-Month Low – Here’s What Happened

Shares of Braskem S.A. (NYSE:BAK) reached a new 52-week low during trading on Friday . The company traded as low as $4.47 and last traded at $4.49, with a volume of 556865 shares trading hands. The stock had previously closed at $4.78.

Analysts Set New Price Targets

A number of research firms have commented on BAK. Citigroup upgraded shares of Braskem from a “neutral” rating to a “buy” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. cut their price target on shares of Braskem from $10.00 to $9.50 and set a “neutral” rating for the company in a report on Tuesday, September 10th. Finally, UBS Group raised shares of Braskem from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $7.70 to $10.00 in a research report on Wednesday, September 18th.

Braskem Trading Down 6.7 %

The firm has a market capitalization of $2.01 billion, a PE ratio of -1.26 and a beta of 1.98. The company’s 50-day moving average price is $5.77 and its 200-day moving average price is $6.35. The company has a debt-to-equity ratio of 23.25, a quick ratio of 0.76 and a current ratio of 1.28.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BAK. American Century Companies Inc. raised its position in shares of Braskem by 1.6% in the second quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock valued at $722,000 after buying an additional 1,807 shares during the last quarter. Marshall Wace LLP increased its position in Braskem by 872.0% during the second quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock worth $1,731,000 after purchasing an additional 240,744 shares during the last quarter. MBB Public Markets I LLC increased its position in Braskem by 69.5% during the second quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company’s stock worth $10,303,000 after purchasing an additional 654,806 shares during the last quarter. Point72 Asset Management L.P. increased its position in Braskem by 60.9% during the second quarter. Point72 Asset Management L.P. now owns 41,200 shares of the company’s stock worth $266,000 after purchasing an additional 15,600 shares during the last quarter. Finally, MQS Management LLC acquired a new position in Braskem during the third quarter worth approximately $77,000.

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.