Braskem (NYSE:BAK) Trading Down 6.3% - What's Next?

Braskem S.A. (NYSE:BAK - Get Free Report) fell 6.3% on Friday . The company traded as low as $3.83 and last traded at $3.80. 696,705 shares were traded during mid-day trading, a decline of 15% from the average session volume of 816,002 shares. The stock had previously closed at $4.05.

Analyst Upgrades and Downgrades

Separately, Scotiabank lowered Braskem from a "sector outperform" rating to a "sector perform" rating in a research note on Monday, March 3rd.

Braskem Stock Down 6.4%

The stock has a market cap of $1.51 billion, a P/E 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 $4.10.

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

Institutional Investors Weigh In On Braskem

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Braskem by 876.1% in the third quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company's stock worth $40,000 after buying an additional 4,871 shares in the last quarter. R Squared Ltd purchased a new stake in Braskem during the fourth quarter valued at approximately $44,000. Blue Trust Inc. raised its position in 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 purchasing an additional 12,627 shares during the period. Signaturefd LLC purchased a new stake in Braskem during the fourth quarter valued at approximately $53,000. Finally, Ballentine Partners LLC purchased a new stake in Braskem during the first quarter valued at approximately $58,000.

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.