Braskem S.A. (NYSE:BAK) Shares Acquired by Covalis Capital LLP

Covalis Capital LLP boosted its position in shares of Braskem S.A. (NYSE:BAK - Free Report) by 27.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,173,852 shares of the company's stock after purchasing an additional 250,215 shares during the quarter. Covalis Capital LLP owned approximately 0.29% of Braskem worth $4,531,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Walleye Capital LLC boosted its position in shares of Braskem by 60.5% in the 4th quarter. Walleye Capital LLC now owns 512,076 shares of the company's stock worth $1,977,000 after buying an additional 193,120 shares in the last quarter. Renaissance Technologies LLC raised its position in Braskem by 126.1% during the fourth quarter. Renaissance Technologies LLC now owns 329,910 shares of the company's stock worth $1,273,000 after acquiring an additional 184,010 shares during the last quarter. Trexquant Investment LP lifted its holdings in shares of Braskem by 145.8% in the fourth quarter. Trexquant Investment LP now owns 258,638 shares of the company's stock valued at $998,000 after purchasing an additional 153,401 shares in the last quarter. Marshall Wace LLP grew its position in shares of Braskem by 14.3% in the fourth quarter. Marshall Wace LLP now owns 787,348 shares of the company's stock valued at $3,039,000 after purchasing an additional 98,406 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Braskem by 106.8% during the 3rd quarter. Jane Street Group LLC now owns 90,736 shares of the company's stock worth $666,000 after purchasing an additional 46,858 shares in the last quarter.

Wall Street Analyst Weigh In

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

Braskem Stock Performance

BAK stock traded up $0.18 during trading on Wednesday, hitting $4.00. The stock had a trading volume of 842,608 shares, compared to its average volume of 817,136. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -1.13 and a beta of 1.80. The company's 50 day moving average price is $3.75 and its two-hundred day moving average price is $4.58. Braskem S.A. has a 1-year low of $2.85 and a 1-year high of $9.21.

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