Braskem (NYSE:BAK) Hits New 52-Week Low - Here's Why

Braskem S.A. (NYSE:BAK - Get Free Report)'s stock price hit a new 52-week low on Friday . The company traded as low as $4.47 and last traded at $4.49, with a volume of 556865 shares traded. The stock had previously closed at $4.78.

Analysts Set New Price Targets

Several research analysts have weighed in on BAK shares. Citigroup upgraded Braskem from a "neutral" rating to a "buy" rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lowered their price objective on shares of Braskem from $10.00 to $9.50 and set a "neutral" rating on the stock in a research report on Tuesday, September 10th. Finally, UBS Group upgraded shares of Braskem from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $7.70 to $10.00 in a research report on Wednesday, September 18th.

Braskem Price Performance

The stock has a fifty day moving average of $5.70 and a two-hundred day moving average of $6.33. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -1.20 and a beta of 1.98. The company has a quick ratio of 0.76, a current ratio of 1.28 and a debt-to-equity ratio of 23.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAK. MBB Public Markets I LLC grew its stake in shares of Braskem by 69.5% during the 2nd quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company's stock valued at $10,303,000 after buying an additional 654,806 shares during the period. Walleye Capital LLC acquired a new position in Braskem during the 3rd quarter worth $2,341,000. Marshall Wace LLP raised its position in shares of Braskem by 872.0% during the 2nd quarter. Marshall Wace LLP now owns 268,352 shares of the company's stock valued at $1,731,000 after acquiring an additional 240,744 shares in the last quarter. State Street Corp lifted its holdings in Braskem by 2.3% in the third quarter. State Street Corp now owns 228,110 shares of the company's stock worth $1,674,000 after acquiring an additional 5,124 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Braskem by 329.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company's stock worth $1,298,000 after buying an additional 135,600 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.