Braskem (NYSE:BAK) Trading Up 4.6% – Here’s Why

Braskem S.A. (NYSE:BAK)’s stock price rose 4.6% on Tuesday . The company traded as high as $3.51 and last traded at $3.4620. Approximately 1,840,095 shares changed hands during trading, a decline of 24% from the average daily volume of 2,414,276 shares. The stock had previously closed at $3.31.

Analyst Ratings Changes

BAK has been the subject of a number of recent analyst reports. Weiss Ratings restated 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 research note on Wednesday, April 1st. Bank of America cut Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 price target on the stock. in a research note on Thursday, March 26th. Finally, Zacks Research cut Braskem from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Braskem has a consensus rating of “Reduce” and a consensus target price of $3.87.

Braskem Price Performance

The company has a market capitalization of $1.36 billion, a PE ratio of -0.74 and a beta of 1.74. The firm has a 50-day moving average of $3.97 and a 200 day moving average of $3.24.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its position in shares of Braskem by 444.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock worth $25,000 after purchasing an additional 7,003 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Braskem by 222.1% during the fourth quarter. Quadrant Capital Group LLC now owns 12,809 shares of the company’s stock worth $38,000 after purchasing an additional 8,832 shares in the last quarter. Signaturefd LLC grew its position in shares of Braskem by 50.1% during the fourth quarter. Signaturefd LLC now owns 13,524 shares of the company’s stock worth $40,000 after purchasing an additional 4,513 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of Braskem during the third quarter worth about $34,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Braskem during the fourth 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.