Shares of Braskem S.A. (NYSE:BAK - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $4.13, but opened at $3.98. Braskem shares last traded at $4.06, with a volume of 122,018 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, Scotiabank lowered shares of Braskem from a "sector outperform" rating to a "sector perform" rating in a research report on Monday, March 3rd.
Check Out Our Latest Stock Report on Braskem
Braskem Trading Down 2.7 %
The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -1.08 and a beta of 2.06. The stock's 50-day moving average is $4.22 and its 200-day moving average is $5.04.
Braskem (NYSE:BAK - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.01). The business had revenue of $3.28 billion for 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%. On average, equities research analysts anticipate that Braskem S.A. will post -0.77 EPS for the current fiscal year.
Hedge Funds Weigh In On Braskem
Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. increased its holdings in Braskem by 329.1% in the third quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company's stock worth $1,298,000 after purchasing an additional 135,600 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Braskem by 876.1% during the third quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company's stock worth $40,000 after acquiring an additional 4,871 shares in the last quarter. R Squared Ltd acquired a new stake in Braskem in the fourth quarter worth $44,000. Jane Street Group LLC increased its stake 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 purchasing an additional 46,858 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Braskem by 2,510.3% during the fourth quarter. Blue Trust Inc. now owns 13,130 shares of the company's stock valued at $51,000 after purchasing an additional 12,627 shares during the period.
About Braskem
(
Get Free Report)
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.
See Also
Before you consider Braskem, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Braskem wasn't on the list.
While Braskem currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
