Kapitalo Investimentos Ltda Reduces Holdings in Braskem S.A. $BAK

Kapitalo Investimentos Ltda decreased its position in shares of Braskem S.A. (NYSE:BAK) by 88.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 155,017 shares of the company’s stock after selling 1,196,850 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Braskem were worth $375,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jump Financial LLC lifted its holdings in Braskem by 607.1% during the second quarter. Jump Financial LLC now owns 263,771 shares of the company’s stock valued at $865,000 after purchasing an additional 226,467 shares during the last quarter. Centric Wealth Management bought a new stake in shares of Braskem in the second quarter valued at approximately $128,000. Jane Street Group LLC raised its position in shares of Braskem by 130.3% in the second quarter. Jane Street Group LLC now owns 49,301 shares of the company’s stock valued at $162,000 after purchasing an additional 27,891 shares during the period. Finally, Ballentine Partners LLC purchased a new stake in shares of Braskem during the 3rd quarter valued at approximately $34,000.

Braskem Price Performance

BAK opened at $3.75 on Thursday. The firm has a market capitalization of $1.53 billion, a P/E ratio of -1.64 and a beta of 1.88. Braskem S.A. has a one year low of $2.32 and a one year high of $4.94. The company has a fifty day moving average price of $3.03 and a 200-day moving average price of $2.98.

Braskem (NYSE:BAK) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.46. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.23 billion. On average, analysts expect that Braskem S.A. will post -0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BAK. Citigroup lowered shares of Braskem from a “buy” rating to a “hold” rating in a research note on Friday, October 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Braskem in a research report on Wednesday, January 21st. Santander lowered Braskem from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 16th. Finally, Zacks Research downgraded Braskem from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Braskem currently has an average rating of “Reduce” and an average price target of $4.40.

About Braskem

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.