Braskem S.A. (NYSE:BAK) Sees Significant Increase in Short Interest

Braskem S.A. (NYSE:BAK - Get Free Report) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,990,000 shares, an increase of 25.2% from the November 30th total of 1,590,000 shares. Based on an average daily trading volume, of 814,800 shares, the short-interest ratio is currently 2.4 days.

Analysts Set New Price Targets

Several research firms recently issued reports on BAK. JPMorgan Chase & Co. dropped their target price on shares of Braskem from $10.00 to $9.50 and set a "neutral" rating on the stock in a report on Tuesday, September 10th. UBS Group upgraded Braskem from a "neutral" rating to a "buy" rating and upped their target price for the company from $7.70 to $10.00 in a research report on Wednesday, September 18th.

Hedge Funds Weigh In On Braskem

Several institutional investors and hedge funds have recently bought and sold shares of the company. MBB Public Markets I LLC boosted its holdings in Braskem by 69.5% in the 2nd quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company's stock valued at $10,303,000 after purchasing an additional 654,806 shares during the period. Walleye Capital LLC purchased a new stake in shares of Braskem in the third quarter worth $2,341,000. Marshall Wace LLP boosted its stake in Braskem by 872.0% during the second quarter. Marshall Wace LLP now owns 268,352 shares of the company's stock valued at $1,731,000 after buying an additional 240,744 shares during the period. Point72 Asset Management L.P. grew its position in Braskem by 329.1% during the third quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company's stock worth $1,298,000 after buying an additional 135,600 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Braskem by 106.8% in the 3rd quarter. Jane Street Group LLC now owns 90,736 shares of the company's stock valued at $666,000 after acquiring an additional 46,858 shares in the last quarter.

Braskem Stock Performance

Shares of NYSE BAK traded up $0.06 during midday trading on Tuesday, reaching $3.86. The company's stock had a trading volume of 865,673 shares, compared to its average volume of 850,583. The stock has a market capitalization of $1.54 billion, a P/E ratio of -1.09 and a beta of 1.98. The company has a debt-to-equity ratio of 23.25, a current ratio of 1.28 and a quick ratio of 0.76. The firm has a 50 day moving average price of $5.06 and a 200-day moving average price of $6.06. Braskem has a 12-month low of $3.70 and a 12-month high of $10.98.

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.