Braskem (NYSE:BAK) Hits New 12-Month Low - Time to Sell?

Braskem S.A. (NYSE:BAK - Get Free Report) shares reached a new 52-week low on Friday . The stock traded as low as $3.30 and last traded at $3.27, with a volume of 988379 shares. The stock had previously closed at $3.63.

Analyst Ratings Changes

Separately, Scotiabank cut shares of Braskem from a "sector outperform" rating to a "sector perform" rating in a research report on Monday, March 3rd.

Braskem Stock Up 12.5 %

The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -0.92 and a beta of 1.80. The company has a 50 day simple moving average of $4.00 and a 200-day simple moving average of $4.86.

Braskem (NYSE:BAK - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.01). The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.52 billion. Braskem had a negative net margin of 9.88% and a negative return on equity of 439.59%. As a group, sell-side analysts anticipate that Braskem S.A. will post -0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Braskem

A number of institutional investors and hedge funds have recently made changes to their positions in BAK. Covalis Capital LLP increased its position in Braskem by 27.1% in the 4th quarter. Covalis Capital LLP now owns 1,173,852 shares of the company's stock valued at $4,531,000 after buying an additional 250,215 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Braskem by 14.3% during the fourth quarter. Marshall Wace LLP now owns 787,348 shares of the company's stock valued at $3,039,000 after acquiring an additional 98,406 shares in the last quarter. Walleye Capital LLC raised its position in shares of Braskem by 60.5% during the fourth quarter. Walleye Capital LLC now owns 512,076 shares of the company's stock worth $1,977,000 after purchasing an additional 193,120 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Braskem by 126.1% in the 4th quarter. Renaissance Technologies LLC now owns 329,910 shares of the company's stock worth $1,273,000 after purchasing an additional 184,010 shares in the last quarter. Finally, Trexquant Investment LP grew its position in Braskem by 145.8% in the 4th quarter. Trexquant Investment LP now owns 258,638 shares of the company's stock valued at $998,000 after purchasing an additional 153,401 shares during the period.

Braskem Company Profile

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.