Braskem (NYSE:BAK) Hits New 1-Year Low – Should You Sell?

Braskem S.A. (NYSE:BAK)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $3.30 and last traded at $3.27, with a volume of 988379 shares changing hands. The stock had previously closed at $3.63.

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

The company has a market cap of $1.32 billion, a PE ratio of -0.93 and a beta of 1.80. The company’s 50 day simple moving average is $4.11 and its two-hundred day simple moving average is $4.95.

Braskem (NYSE:BAK) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.52 billion. Braskem had a negative return on equity of 439.59% and a negative net margin of 9.88%. Sell-side analysts expect that Braskem S.A. will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Braskem

Several hedge funds have recently bought and sold shares of BAK. Covalis Capital LLP lifted its position in shares of Braskem by 27.1% during the fourth quarter. Covalis Capital LLP now owns 1,173,852 shares of the company’s stock worth $4,531,000 after purchasing an additional 250,215 shares in the last quarter. Walleye Capital LLC lifted its holdings in Braskem by 60.5% during 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 lifted its holdings in 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 in the last quarter. Trexquant Investment LP boosted its position in Braskem by 145.8% in the 4th quarter. Trexquant Investment LP now owns 258,638 shares of the company’s stock valued at $998,000 after buying an additional 153,401 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in shares of Braskem by 329.1% in the third quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock worth $1,298,000 after acquiring an additional 135,600 shares in the last quarter.

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.