Walleye Capital LLC Has $1.98 Million Stock Holdings in Braskem S.A. (NYSE:BAK)

Walleye Capital LLC boosted its position in shares of Braskem S.A. (NYSE:BAK - Free Report) by 60.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 512,076 shares of the company's stock after purchasing an additional 193,120 shares during the period. Walleye Capital LLC owned 0.13% of Braskem worth $1,977,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in shares of Braskem by 126.1% during the 4th quarter. Renaissance Technologies LLC now owns 329,910 shares of the company's stock worth $1,273,000 after buying an additional 184,010 shares during the period. Quadrant Capital Group LLC acquired a new position in shares of Braskem during the 4th quarter worth about $88,000. Trexquant Investment LP boosted its stake in Braskem by 145.8% during the 4th 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 during the period. Fox Run Management L.L.C. grew its holdings in Braskem by 103.3% in the 4th quarter. Fox Run Management L.L.C. now owns 35,366 shares of the company's stock valued at $137,000 after buying an additional 17,971 shares during the last quarter. Finally, Signaturefd LLC bought a new position in Braskem in the 4th quarter worth approximately $53,000.

Wall Street Analysts Forecast Growth

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

Braskem Price Performance

Shares of BAK stock traded up $0.18 during trading hours on Wednesday, hitting $4.00. 821,680 shares of the company's stock were exchanged, 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. Braskem S.A. has a 52 week low of $2.85 and a 52 week high of $9.21. The stock's 50-day moving average is $3.75 and its 200-day moving average is $4.58.

Braskem (NYSE:BAK - Get Free Report) last announced its quarterly earnings data 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). 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%. Equities research analysts forecast that Braskem S.A. will post -0.77 earnings per share for the current fiscal year.

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.