Braskem (NYSE:BAK) Stock Price Down 4.7% – Should You Sell?

Braskem S.A. (NYSE:BAK) shares fell 4.7% during mid-day trading on Monday . The company traded as low as $2.36 and last traded at $2.3450. 130,466 shares traded hands during trading, a decline of 95% from the average daily volume of 2,437,239 shares. The stock had previously closed at $2.46.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Bank of America lowered shares of 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. Bradesco Corretora cut shares of Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 price objective for the company. in a report on Tuesday, April 21st. Zacks Research downgraded shares of Braskem from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Braskem in a report on Friday. Finally, Citigroup cut Braskem from a “neutral” rating to a “sell” rating in a research report on Thursday, June 25th. Three equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, Braskem currently has an average rating of “Strong Sell” and an average target price of $3.40.

Braskem Trading Down 2.3%

The firm’s fifty day moving average price is $3.44 and its 200-day moving average price is $3.63. The company has a market cap of $918.78 million, a P/E ratio of -0.55, a P/E/G ratio of 0.13 and a beta of 1.61.

Braskem (NYSE:BAK) last released its earnings results on Thursday, May 14th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.48. Braskem had a negative net margin of 13.72% and a negative return on equity of 23.17%. The business had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.39 billion. As a group, research analysts forecast that Braskem S.A. will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC increased its position in shares of Braskem by 50.1% during the 4th 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. EverSource Wealth Advisors LLC boosted its position in Braskem by 444.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock valued at $25,000 after buying an additional 7,003 shares in the last quarter. Quadrant Capital Group LLC grew its stake in 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 buying an additional 8,832 shares during the last quarter. Virtu Financial LLC grew its stake in Braskem by 28.7% during the third quarter. Virtu Financial LLC now owns 44,587 shares of the company’s stock worth $108,000 after buying an additional 9,938 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of Braskem during the first quarter worth approximately $51,000.

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.