Braskem (NYSE:BAK) Sets New 12-Month Low - What's Next?

Braskem S.A. (NYSE:BAK - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $3.82 and last traded at $3.93, with a volume of 385920 shares changing hands. The stock had previously closed at $3.84.

Analyst Upgrades and Downgrades

BAK has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Braskem from $10.00 to $9.50 and set a "neutral" rating on the stock in a report on Tuesday, September 10th. UBS Group raised Braskem from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $7.70 to $10.00 in a research note on Wednesday, September 18th.

Braskem Stock Performance

The stock's 50 day simple moving average is $5.31 and its two-hundred day simple moving average is $6.17. The company has a market capitalization of $1.57 billion, a P/E ratio of -1.11 and a beta of 1.99. The company has a debt-to-equity ratio of 23.25, a current ratio of 1.28 and a quick ratio of 0.76.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BAK. MQS Management LLC bought a new stake in shares of Braskem during the third quarter worth approximately $77,000. Virtu Financial LLC acquired a new stake in Braskem during the 3rd quarter worth $88,000. Verition Fund Management LLC bought a new stake in shares of Braskem during the 3rd quarter valued at $123,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Braskem in the 3rd quarter valued at $197,000. Finally, Point72 Asset Management L.P. boosted its position in shares of Braskem by 60.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 41,200 shares of the company's stock worth $266,000 after purchasing an additional 15,600 shares during the last quarter.

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.