Braskem (NYSE:BAK) Shares Gap Down - Time to Sell?

Braskem S.A. (NYSE:BAK - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $4.01, but opened at $3.91. Braskem shares last traded at $3.89, with a volume of 226,880 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BAK shares. UBS Group raised shares of Braskem from a "neutral" rating to a "buy" rating and raised their target price for the stock from $7.70 to $10.00 in a research report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their price target on Braskem from $10.00 to $9.50 and set a "neutral" rating for the company in a research note on Tuesday, September 10th.

Braskem Trading Down 4.2 %

The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -1.08 and a beta of 1.98. The business's 50-day moving average price is $5.42 and its 200 day moving average price is $6.21. 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 Trading of Braskem

Several large investors have recently modified their holdings of BAK. Point72 Asset Management L.P. lifted its stake in shares of 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 acquiring an additional 135,600 shares in the last quarter. Marshall Wace LLP grew its position in shares of Braskem by 872.0% during the second quarter. Marshall Wace LLP now owns 268,352 shares of the company's stock worth $1,731,000 after buying an additional 240,744 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Braskem in the third quarter worth $197,000. American Century Companies Inc. increased its stake in shares of Braskem by 1.6% in the second quarter. American Century Companies Inc. now owns 111,968 shares of the company's stock worth $722,000 after buying an additional 1,807 shares during the last quarter. Finally, MBB Public Markets I LLC raised its holdings in Braskem by 69.5% in the second quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company's stock valued at $10,303,000 after acquiring an additional 654,806 shares in the last quarter.

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.