Braskem (NYSE:BAK) Reaches New 1-Year Low - Here's Why

Key Points

• Braskem's stock hit a new 52-week low of $2.83 on Thursday, closing at $2.88 with significant trading volume of 275,416 shares.
• The company reported a quarterly earnings per share of ($0.14), which surpassed analysts' expectations, but generated revenue significantly less than predicted at $3.38 billion against a consensus of $18.76 billion.
• Institutional investors are actively trading Braskem shares, with notable investments including a 654.9% increase in stake by GAMMA Investing LLC in the first quarter.

Braskem S.A. (NYSE:BAK - Get Free Report)'s stock price reached a new 52-week low on Thursday . The stock traded as low as $2.83 and last traded at $2.88, with a volume of 275416 shares trading hands. The stock had previously closed at $2.96.

Braskem Trading Down 2.2%

The company's 50-day moving average price is $3.37 and its two-hundred day moving average price is $3.71. The company has a market cap of $1.15 billion, a P/E ratio of -1.14 and a beta of 1.70.

Braskem (NYSE:BAK - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.70) by $0.56. The business had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $18.76 billion. As a group, analysts anticipate that Braskem S.A. will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BAK. Ballentine Partners LLC acquired a new stake in Braskem during the first quarter valued at approximately $58,000. R Squared Ltd grew its stake in Braskem by 55.2% in the 1st quarter. R Squared Ltd now owns 17,600 shares of the company's stock valued at $68,000 after buying an additional 6,260 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Braskem in the 4th quarter valued at $71,000. GAMMA Investing LLC boosted its holdings in Braskem by 654.9% in the 1st quarter. GAMMA Investing LLC now owns 19,824 shares of the company's stock valued at $76,000 after purchasing an additional 17,198 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Braskem during the 1st quarter worth about $99,000.

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.

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