Braskem (NYSE:BAK) Shares Gap Up - What's Next?

Braskem S.A. (NYSE:BAK - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $3.87, but opened at $4.10. Braskem shares last traded at $3.97, with a volume of 202,649 shares traded.

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 stock has a market cap of $1.51 billion, a PE ratio of -1.07 and a beta of 1.83. The business has a 50 day moving average price of $3.66 and a two-hundred day moving average price of $4.11.

Braskem (NYSE:BAK - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.27. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $22.86 billion. Braskem had a negative return on equity of 439.59% and a negative net margin of 9.88%. On average, sell-side analysts forecast that Braskem S.A. will post -0.77 earnings per share for the current fiscal year.

Institutional Trading of Braskem

A number of institutional investors have recently made changes to their positions in BAK. JPMorgan Chase & Co. boosted its stake in shares of Braskem by 876.1% during the third quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company's stock valued at $40,000 after purchasing an additional 4,871 shares during the period. Blue Trust Inc. raised its holdings in shares of Braskem by 2,510.3% during the fourth quarter. Blue Trust Inc. now owns 13,130 shares of the company's stock valued at $51,000 after acquiring an additional 12,627 shares in the last quarter. R Squared Ltd bought a new position in shares of Braskem during the fourth quarter valued at approximately $44,000. HighTower Advisors LLC raised its holdings in shares of Braskem by 19.4% during the fourth quarter. HighTower Advisors LLC now owns 19,213 shares of the company's stock valued at $74,000 after acquiring an additional 3,126 shares in the last quarter. Finally, Signaturefd LLC bought a new position in shares of Braskem during the fourth quarter valued at approximately $53,000.

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.