Braskem (NYSE:BAK) Hits New 52-Week Low - Here's What Happened

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) hit a new 52-week low on Thursday . The company traded as low as $2.83 and last traded at $2.88, with a volume of 275416 shares. The stock had previously closed at $2.96.

Braskem Stock Performance

The business has a 50 day moving average price of $3.32 and a two-hundred day moving average price of $3.65. The stock has a market cap of $1.13 billion, a PE ratio of -1.12 and a beta of 1.70.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ballentine Partners LLC bought a new position in Braskem in the 1st quarter valued at $58,000. R Squared Ltd boosted its holdings 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 purchasing an additional 6,260 shares during the period. Dark Forest Capital Management LP bought a new position 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 purchased a new stake in shares of Braskem during the 1st quarter valued at $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.