Braskem (NYSE:BAK) Stock Price Up 6.6% - Should You Buy?

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

Analysts Set New Price Targets

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

Braskem Stock Performance

The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -1.05 and a beta of 1.83. The firm has a fifty day simple moving average of $3.64 and a 200-day simple moving average of $4.19.

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 company had revenue of $3.60 billion during 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%. Analysts expect that Braskem S.A. will post -0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Braskem

Large investors have recently added to or reduced their stakes in the stock. Kapitalo Investimentos Ltda raised its stake in Braskem by 1,136,346.5% in the first quarter. Kapitalo Investimentos Ltda now owns 1,466,016 shares of the company's stock valued at $5,644,000 after purchasing an additional 1,465,887 shares in the last quarter. Covalis Capital LLP boosted its holdings in shares of 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 purchasing an additional 250,215 shares in the last quarter. Walleye Capital LLC increased 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 during the last quarter. Renaissance Technologies LLC raised its holdings in shares of 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 buying an additional 184,010 shares in the last quarter. Finally, Trexquant Investment LP lifted its position in shares of Braskem by 145.8% during the 4th quarter. Trexquant Investment LP now owns 258,638 shares of the company's stock worth $998,000 after buying an additional 153,401 shares during the last quarter.

About Braskem

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.

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