Braskem S.A. (NYSE:BAK - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $3.63, but opened at $3.72. Braskem shares last traded at $3.74, with a volume of 112,165 shares trading hands.
Analyst Upgrades and Downgrades
Separately, Scotiabank cut shares of Braskem from a "sector outperform" rating to a "sector perform" rating in a research note on Monday, March 3rd.
Check Out Our Latest Analysis on BAK
Braskem Stock Performance
The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -1.11 and a beta of 2.06. The company has a 50 day moving average price of $4.22 and a 200 day moving average price of $5.06.
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 analysts' consensus estimates of ($0.38) by ($0.01). Braskem had a negative net margin of 9.88% and a negative return on equity of 439.59%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.52 billion. On average, research analysts forecast that Braskem S.A. will post -0.77 earnings per share for the current year.
Institutional Trading of Braskem
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its holdings in shares of Braskem by 19.4% in the fourth quarter. HighTower Advisors LLC now owns 19,213 shares of the company's stock valued at $74,000 after purchasing an additional 3,126 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Braskem by 2.3% in the fourth quarter. Point72 Asset Management L.P. now owns 180,900 shares of the company's stock valued at $698,000 after acquiring an additional 4,100 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Braskem by 876.1% in 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 during the last quarter. State Street Corp grew its holdings in Braskem by 2.3% during the 3rd 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 in the last quarter. Finally, R Squared Ltd acquired a new position in Braskem during the 4th quarter worth approximately $44,000.
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.
Further Reading
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