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

Braskem S.A. (NYSE:BAK - Get Free Report) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $2.85 and last traded at $3.28, with a volume of 1795154 shares. The stock had previously closed at $2.91.

Analyst Ratings Changes

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

Braskem Stock Performance

The business's fifty day moving average price is $3.87 and its two-hundred day moving average price is $4.72. The firm has a market capitalization of $1.34 billion, a P/E ratio of -0.95 and a beta of 1.80.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Covalis Capital LLP grew its position in Braskem by 27.1% during the 4th quarter. Covalis Capital LLP now owns 1,173,852 shares of the company's stock worth $4,531,000 after purchasing an additional 250,215 shares during the period. Walleye Capital LLC grew its stake in shares of Braskem by 60.5% during the 4th 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 grew its position in Braskem by 126.1% during the fourth quarter. Renaissance Technologies LLC now owns 329,910 shares of the company's stock valued at $1,273,000 after buying an additional 184,010 shares during the period. Trexquant Investment LP grew its position in shares of Braskem by 145.8% during the 4th quarter. Trexquant Investment LP now owns 258,638 shares of the company's stock valued at $998,000 after acquiring an additional 153,401 shares during the period. Finally, Bank of America Corp DE raised its holdings in Braskem by 431.0% in the 4th quarter. Bank of America Corp DE now owns 134,824 shares of the company's stock worth $520,000 after purchasing an additional 109,433 shares during the period.

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.