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

Braskem S.A. (NYSE:BAK) saw a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 1,870,000 shares, a decline of 15.4% from the July 15th total of 2,210,000 shares. Based on an average daily trading volume, of 676,600 shares, the short-interest ratio is presently 2.8 days.

Hedge Funds Weigh In On Braskem

A number of institutional investors have recently made changes to their positions in BAK. American Century Companies Inc. grew its stake in shares of Braskem by 1.6% in the second quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock worth $722,000 after acquiring an additional 1,807 shares during the last quarter. Jump Financial LLC boosted its holdings in Braskem by 4.3% in the 4th quarter. Jump Financial LLC now owns 67,392 shares of the company’s stock valued at $594,000 after purchasing an additional 2,790 shares during the period. Boston Partners acquired a new stake in Braskem in the 1st quarter worth $627,000. Trexquant Investment LP increased its holdings in shares of Braskem by 197.1% during the 4th quarter. Trexquant Investment LP now owns 141,852 shares of the company’s stock worth $1,251,000 after purchasing an additional 94,099 shares during the period. Finally, SPX Gestao de Recursos Ltda increased its holdings in shares of Braskem by 266.9% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 239,536 shares of the company’s stock worth $2,113,000 after purchasing an additional 174,250 shares during the period.

Braskem Stock Performance

BAK traded up $0.14 during trading on Friday, hitting $6.22. The stock had a trading volume of 340,657 shares, compared to its average volume of 874,051. The firm has a market cap of $2.81 billion, a PE ratio of -1.93 and a beta of 2.05. The company has a current ratio of 1.46, a quick ratio of 0.95 and a debt-to-equity ratio of 23.25. Braskem has a 12 month low of $5.28 and a 12 month high of $10.98. The company has a 50 day simple moving average of $6.50 and a 200-day simple moving average of $7.71.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reduced their target price on Braskem from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, May 24th.

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.