Braskem (NYSE:BAK) Trading Up 3.9% - Here's Why

Braskem S.A. (NYSE:BAK - Get Free Report) shares traded up 3.9% during trading on Thursday . The stock traded as high as $3.64 and last traded at $3.62. 488,331 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 818,246 shares. The stock had previously closed at $3.48.

Analyst Ratings Changes

Separately, Scotiabank cut Braskem from a "sector outperform" rating to a "sector perform" rating in a research report on Monday, March 3rd.

Braskem Price Performance

The business's 50 day moving average price is $4.23 and its 200 day moving average price is $5.27. The firm has a market cap of $1.44 billion, a PE ratio of -1.02 and a beta of 2.06.

Braskem (NYSE:BAK - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.01). The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.52 billion. Braskem had a negative return on equity of 439.59% and a negative net margin of 9.88%. As a group, analysts predict that Braskem S.A. will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of 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 buying an additional 4,871 shares in the last quarter. R Squared Ltd acquired a new position in Braskem during the fourth quarter worth about $44,000. Blue Trust Inc. grew its stake in Braskem by 2,510.3% during the 4th quarter. Blue Trust Inc. now owns 13,130 shares of the company's stock valued at $51,000 after acquiring an additional 12,627 shares in the last quarter. Signaturefd LLC acquired a new stake in Braskem in the 4th quarter valued at about $53,000. Finally, Dark Forest Capital Management LP purchased a new position in Braskem in the 4th quarter worth approximately $71,000.

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.

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