Braskem S.A. (NYSE:BAK) Short Interest Update

Braskem S.A. (NYSE:BAK - Get Free Report) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 3,050,000 shares, a growth of 39.3% from the January 31st total of 2,190,000 shares. Based on an average trading volume of 995,200 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Trading of Braskem

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Braskem by 876.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company's stock worth $40,000 after purchasing an additional 4,871 shares during the period. MQS Management LLC bought a new stake in shares of Braskem in the third quarter valued at $77,000. R Squared Ltd purchased a new position in shares of Braskem during the 4th quarter valued at $44,000. Virtu Financial LLC purchased a new stake in Braskem in the 3rd quarter worth about $88,000. Finally, Blue Trust Inc. increased its holdings in Braskem by 2,510.3% in the 4th quarter. Blue Trust Inc. now owns 13,130 shares of the company's stock worth $51,000 after acquiring an additional 12,627 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Braskem Trading Up 1.1 %

Shares of NYSE:BAK traded up $0.04 during mid-day trading on Friday, hitting $3.68. 306,891 shares of the company traded hands, compared to its average volume of 817,849. The stock has a market cap of $1.47 billion, a P/E ratio of -1.03 and a beta of 2.06. The stock has a 50-day moving average price of $4.25 and a two-hundred day moving average price of $5.35. Braskem has a 12-month low of $3.41 and a 12-month high of $10.98.

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

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.