Braskem (NYSE:BAK) Trading Down 3.5% - Here's Why

Braskem S.A. (NYSE:BAK - Get Free Report) dropped 3.5% during trading on Friday . The stock traded as low as $3.85 and last traded at $3.86. Approximately 372,951 shares were traded during trading, a decline of 48% from the average daily volume of 717,406 shares. The stock had previously closed at $4.00.

Analyst Upgrades and Downgrades

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

Braskem Price Performance

The company has a market cap of $1.51 billion, a price-to-earnings ratio of -1.06 and a beta of 1.98. The company has a fifty day simple moving average of $4.97 and a two-hundred day simple moving average of $6.03. 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 Investors Weigh In On Braskem

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Braskem by 876.1% in the third quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company's stock valued at $40,000 after purchasing an additional 4,871 shares in the last quarter. MQS Management LLC purchased a new stake in Braskem in the 3rd quarter valued at approximately $77,000. Virtu Financial LLC acquired a new stake in Braskem during the 3rd quarter valued at $88,000. Verition Fund Management LLC purchased a new position in Braskem during the third quarter worth $123,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Braskem in the third quarter worth $197,000.

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.