Braskem (NYSE:BAK) Sets New 52-Week Low – What’s Next?

Braskem S.A. (NYSE:BAK)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $3.92 and last traded at $3.98, with a volume of 1366840 shares changing hands. The stock had previously closed at $4.27.

Wall Street Analysts Forecast Growth

BAK has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Braskem from $10.00 to $9.50 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. UBS Group raised shares of Braskem from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $7.70 to $10.00 in a research note on Wednesday, September 18th.

Braskem Stock Down 1.0 %

The stock has a market capitalization of $1.60 billion, a P/E ratio of -1.13 and a beta of 1.98. The stock has a 50 day moving average price of $5.42 and a 200-day moving average price of $6.22. The company has a debt-to-equity ratio of 23.25, a current ratio of 1.28 and a quick ratio of 0.76.

Institutional Investors Weigh In On Braskem

Several institutional investors have recently bought and sold shares of BAK. Virtu Financial LLC bought a new stake in Braskem in the third quarter valued at approximately $88,000. Jane Street Group LLC grew its holdings in shares of Braskem by 106.8% in the third 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 during the last quarter. State Street Corp increased its stake in shares of Braskem by 2.3% in the third quarter. State Street Corp now owns 228,110 shares of the company’s stock worth $1,674,000 after buying an additional 5,124 shares during the period. Point72 Asset Management L.P. raised its holdings in Braskem by 329.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock valued at $1,298,000 after buying an additional 135,600 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Braskem during the 3rd quarter valued at $123,000.

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.