Braskem S.A. (NYSE:BAK) Short Interest Update

Braskem S.A. (NYSE:BAK - Get Free Report) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 2,270,000 shares, a drop of 15.3% from the April 30th total of 2,680,000 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 896,900 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Upgrades and Downgrades

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

Braskem Stock Performance

Shares of BAK stock traded down $0.01 on Thursday, hitting $3.69. The company's stock had a trading volume of 583,988 shares, compared to its average volume of 819,111. Braskem has a fifty-two week low of $2.85 and a fifty-two week high of $7.71. The stock's 50 day moving average is $3.64 and its 200-day moving average is $4.08. The company has a market capitalization of $1.47 billion, a PE ratio of -1.04 and a beta of 1.83.

Braskem (NYSE:BAK - Get Free Report) last released its quarterly earnings results 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 company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $22.86 billion. Braskem had a negative net margin of 9.88% and a negative return on equity of 439.59%. On average, research analysts forecast that Braskem will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On Braskem

A number of large investors have recently bought and sold shares of BAK. JPMorgan Chase & Co. lifted its holdings in shares of Braskem by 876.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company's stock worth $40,000 after acquiring an additional 4,871 shares during the period. R Squared Ltd acquired a new position in Braskem during the fourth quarter valued at approximately $44,000. Blue Trust Inc. lifted its stake in Braskem by 2,510.3% during the fourth quarter. Blue Trust Inc. now owns 13,130 shares of the company's stock worth $51,000 after purchasing an additional 12,627 shares during the last quarter. Signaturefd LLC bought a new position in Braskem in the fourth quarter valued at about $53,000. Finally, Ballentine Partners LLC bought a new position in shares of Braskem in the first quarter worth about $58,000.

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.