Braskem S.A. (NYSE:BAK) Shares Sold by Centiva Capital LP

Centiva Capital LP decreased its holdings in shares of Braskem S.A. (NYSE:BAK - Free Report) by 72.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,927 shares of the company's stock after selling 150,800 shares during the quarter. Centiva Capital LP's holdings in Braskem were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in BAK. MBB Public Markets I LLC lifted its position in shares of 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 purchasing an additional 654,806 shares in the last quarter. Walleye Capital LLC purchased a new position in Braskem in the 3rd quarter valued at about $2,341,000. Marshall Wace LLP increased its position in shares of Braskem by 872.0% during the second quarter. Marshall Wace LLP now owns 268,352 shares of the company's stock worth $1,731,000 after acquiring an additional 240,744 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of Braskem by 174.9% in the third quarter. Quantbot Technologies LP now owns 71,952 shares of the company's stock worth $528,000 after acquiring an additional 45,782 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Braskem in the third quarter valued at about $197,000.

Braskem Stock Performance

BAK traded up $0.20 during trading hours on Tuesday, hitting $5.03. 944,556 shares of the stock were exchanged, compared to its average volume of 821,005. The company has a debt-to-equity ratio of 23.25, a current ratio of 1.28 and a quick ratio of 0.76. Braskem S.A. has a 12 month low of $4.68 and a 12 month high of $10.98. The stock has a 50-day simple moving average of $5.91 and a 200-day simple moving average of $6.39. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of -1.41 and a beta of 1.98.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BAK. JPMorgan Chase & Co. cut their target price on Braskem from $10.00 to $9.50 and set a "neutral" rating on the stock in a research report on Tuesday, September 10th. Citigroup upgraded shares of Braskem from a "neutral" rating to a "buy" rating in a research note on Tuesday, August 20th. Finally, UBS Group raised Braskem from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $7.70 to $10.00 in a report on Wednesday, September 18th.

Braskem 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.