Braskem (NYSE:BAK) Shares Down 2.2% - Should You Sell?

Shares of Braskem S.A. (NYSE:BAK - Get Free Report) traded down 2.2% on Wednesday . The stock traded as low as $3.28 and last traded at $3.34. 1,151,122 shares were traded during trading, an increase of 34% from the average session volume of 859,820 shares. The stock had previously closed at $3.41.

Braskem Stock Performance

The business has a 50-day simple moving average of $3.59 and a 200 day simple moving average of $3.83. The firm has a market cap of $1.22 billion, a P/E ratio of -0.73 and a beta of 1.69.

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

Institutional Investors Weigh In On Braskem

A number of hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC purchased a new position in shares of Braskem during the 4th quarter valued at $53,000. Ballentine Partners LLC bought a new stake in Braskem in the 1st quarter valued at $58,000. R Squared Ltd increased 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 acquiring 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. Finally, HighTower Advisors LLC increased its holdings in Braskem by 19.4% in the 4th 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 during 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.