Braskem (NYSE:BAK) Sets New 1-Year Low - Here's Why

Braskem S.A. (NYSE:BAK - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $3.69 and last traded at $3.75, with a volume of 80675 shares traded. The stock had previously closed at $3.73.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded shares of Braskem from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $7.70 to $10.00 in a research report on Wednesday, September 18th.

Braskem Stock Up 1.6 %

The company has a market capitalization of $1.51 billion, a PE ratio of -1.07 and a beta of 2.01. The company has a quick ratio of 0.76, a current ratio of 1.28 and a debt-to-equity ratio of 23.25. The firm has a 50-day moving average of $4.69 and a two-hundred day moving average of $5.91.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BAK. Point72 Asset Management L.P. raised 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 valued at $1,298,000 after acquiring an additional 135,600 shares in the last quarter. Jane Street Group LLC increased its holdings in Braskem by 106.8% in the third quarter. Jane Street Group LLC now owns 90,736 shares of the company's stock valued at $666,000 after buying an additional 46,858 shares during the last quarter. State Street Corp increased its holdings in Braskem by 2.3% in the third quarter. State Street Corp now owns 228,110 shares of the company's stock valued at $1,674,000 after buying an additional 5,124 shares during the last quarter. Marshall Wace LLP increased its holdings in Braskem by 872.0% in the second quarter. Marshall Wace LLP now owns 268,352 shares of the company's stock valued at $1,731,000 after buying an additional 240,744 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Braskem in the third quarter valued at $197,000.

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.