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Braskem (NYSE:BAK) Shares Gap Up - Should You Buy?

Braskem logo with Energy background

Braskem S.A. (NYSE:BAK - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $3.39, but opened at $3.65. Braskem shares last traded at $3.67, with a volume of 764,497 shares changing hands.

Braskem Price Performance

The stock's 50-day simple moving average is $3.63 and its two-hundred day simple moving average is $3.85. The firm has a market capitalization of $1.41 billion, a P/E ratio of -0.85 and a beta of 1.69.

Braskem (NYSE:BAK - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.03 by $0.27. The company had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $22.86 billion. On average, analysts forecast that Braskem S.A. will post -0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BAK. Kapitalo Investimentos Ltda grew its position in shares of Braskem by 1,136,346.5% during the first quarter. Kapitalo Investimentos Ltda now owns 1,466,016 shares of the company's stock worth $5,644,000 after acquiring an additional 1,465,887 shares during the last quarter. Covalis Capital LLP grew its holdings in Braskem by 27.1% in the 4th quarter. Covalis Capital LLP now owns 1,173,852 shares of the company's stock valued at $4,531,000 after buying an additional 250,215 shares during the period. Marshall Wace LLP lifted its stake in shares of Braskem by 14.3% in the 4th quarter. Marshall Wace LLP now owns 787,348 shares of the company's stock valued at $3,039,000 after purchasing an additional 98,406 shares in the last quarter. Walleye Capital LLC lifted its stake in shares of Braskem by 60.5% in the 4th quarter. Walleye Capital LLC now owns 512,076 shares of the company's stock valued at $1,977,000 after purchasing an additional 193,120 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position 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 acquiring an additional 184,010 shares in the last quarter.

Braskem Company Profile

(Get Free Report)

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.

See Also

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