Braskem (NYSE:BAK) Stock Price Down 3.3% - Should You Sell?

Braskem S.A. (NYSE:BAK - Get Free Report) fell 3.3% during mid-day trading on Thursday . The company traded as low as $3.78 and last traded at $3.80. 136,581 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 843,888 shares. The stock had previously closed at $3.93.

Analysts Set New Price Targets

BAK has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Braskem from $10.00 to $9.50 and set a "neutral" rating on the stock in a research report on Tuesday, September 10th. UBS Group raised 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 Stock Down 2.3 %

The company has a market capitalization of $1.53 billion, a P/E ratio of -1.08 and a beta of 1.99. The company has a debt-to-equity ratio of 23.25, a quick ratio of 0.76 and a current ratio of 1.28. The firm's fifty day moving average is $5.26 and its 200-day moving average is $6.15.

Institutional Trading of Braskem

A number of hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. increased 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 valued at $1,298,000 after buying an additional 135,600 shares during the period. Marshall Wace LLP raised its holdings in Braskem by 872.0% during the 2nd quarter. Marshall Wace LLP now owns 268,352 shares of the company's stock worth $1,731,000 after purchasing an additional 240,744 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Braskem in the 3rd quarter worth approximately $197,000. American Century Companies Inc. boosted its stake in shares of Braskem by 1.6% in the 2nd quarter. American Century Companies Inc. now owns 111,968 shares of the company's stock valued at $722,000 after purchasing an additional 1,807 shares during the last quarter. Finally, MBB Public Markets I LLC raised its stake in Braskem by 69.5% during the second quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company's stock worth $10,303,000 after buying an additional 654,806 shares during 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.