Braskem (NYSE:BAK) Trading Up 6.6% - Still a Buy?

Shares of Braskem S.A. (NYSE:BAK - Get Free Report) were up 6.6% during trading on Friday . The stock traded as high as $3.56 and last traded at $3.79. Approximately 110,488 shares traded hands during trading, a decline of 86% from the average daily volume of 787,455 shares. The stock had previously closed at $3.56.

Wall Street Analysts Forecast Growth

Separately, Scotiabank cut shares of Braskem from a "sector outperform" rating to a "sector perform" rating in a report on Monday, March 3rd.

Braskem Stock Up 1.2%

The company has a market capitalization of $1.62 billion, a P/E ratio of -1.14 and a beta of 1.83. The business has a fifty day moving average price of $3.64 and a 200 day moving average price of $4.13.

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

Institutional Trading of Braskem

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in Braskem by 876.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company's stock valued at $40,000 after buying an additional 4,871 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Braskem by 2,510.3% in the 4th 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 acquired a new stake in shares of Braskem in the fourth quarter valued at about $44,000. HighTower Advisors LLC raised its holdings in Braskem by 19.4% during the fourth quarter. HighTower Advisors LLC now owns 19,213 shares of the company's stock worth $74,000 after acquiring an additional 3,126 shares in the last quarter. Finally, Signaturefd LLC acquired a new position in 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.