Braskem's (BAK) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• Braskem's stock rating has been reiterated as a "sell (e+)" by Weiss Ratings, indicating a negative sentiment from analysts.
• JPMorgan and UBS have both reduced their target prices for Braskem's shares, with JPMorgan lowering it to $5.00 and UBS to $3.80.
• The company's recent performance indicates a current share price of $2.61, significantly below its 12-month high of $6.89, suggesting challenges in stock value.

Braskem (NYSE:BAK - Get Free Report)'s stock had its "sell (e+)" rating reiterated by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Braskem from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Wednesday, August 27th. UBS Group downgraded shares of Braskem from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $5.10 to $3.80 in a research report on Friday, September 26th. Finally, Zacks Research downgraded shares of Braskem from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 30th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $4.40.

Braskem Stock Performance

Shares of Braskem stock traded up $0.08 during midday trading on Wednesday, hitting $2.61. 992,228 shares of the company traded hands, compared to its average volume of 959,444. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -1.03 and a beta of 1.76. The firm's fifty day moving average price is $3.09 and its 200-day moving average price is $3.40. Braskem has a 12 month low of $2.42 and a 12 month high of $6.89.

Braskem (NYSE:BAK - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.70) by $0.56. The business had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $18.76 billion. Equities research analysts forecast that Braskem will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Jane Street Group LLC raised its holdings in Braskem by 130.3% during the second quarter. Jane Street Group LLC now owns 49,301 shares of the company's stock worth $162,000 after buying an additional 27,891 shares during the last quarter. Jump Financial LLC raised its holdings in Braskem by 607.1% during the second quarter. Jump Financial LLC now owns 263,771 shares of the company's stock worth $865,000 after buying an additional 226,467 shares during the last quarter. Centric Wealth Management acquired a new position in Braskem during the second quarter worth $128,000. Graham Capital Management L.P. acquired a new position in Braskem during the first quarter worth $532,000. Finally, Banco BTG Pactual S.A. bought a new stake in shares of Braskem in the 1st quarter worth $248,000.

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.

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