Braskem (NYSE:BAK) Reaches New 1-Year Low – Should You Sell?

Braskem S.A. (NYSE:BAK) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $3.82 and last traded at $3.93, with a volume of 385920 shares. The stock had previously closed at $3.84.

Analyst Upgrades and Downgrades

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

Braskem Stock Down 2.3 %

The firm has a market capitalization of $1.53 billion, a P/E ratio of -1.08 and a beta of 1.99. The company has a fifty day simple moving average of $5.21 and a 200 day simple moving average of $6.13. The company has a quick ratio of 0.76, a current ratio of 1.28 and a debt-to-equity ratio of 23.25.

Institutional Trading of Braskem

Several institutional investors have recently bought and sold shares of BAK. Point72 Asset Management L.P. lifted its stake in shares of Braskem by 329.1% in the third quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock worth $1,298,000 after buying an additional 135,600 shares in the last quarter. Marshall Wace LLP raised its holdings in Braskem by 872.0% in the 2nd quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock worth $1,731,000 after acquiring an additional 240,744 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Braskem in the 3rd quarter valued at approximately $197,000. American Century Companies Inc. boosted its stake in Braskem by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock valued at $722,000 after purchasing an additional 1,807 shares during the last quarter. Finally, MBB Public Markets I LLC increased its holdings in shares of Braskem by 69.5% in the 2nd 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 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.