Braskem S.A. (NYSE:BAK) Shares Sold by Citadel Advisors LLC

Citadel Advisors LLC reduced its stake in Braskem S.A. (NYSE:BAK - Free Report) by 43.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 188,056 shares of the company's stock after selling 145,990 shares during the period. Citadel Advisors LLC's holdings in Braskem were worth $726,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake 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 in the last quarter. Blue Trust Inc. increased its position in shares of Braskem by 2,510.3% in the fourth quarter. Blue Trust Inc. now owns 13,130 shares of the company's stock valued at $51,000 after buying an additional 12,627 shares in the last quarter. R Squared Ltd acquired a new position in shares of Braskem during the 4th quarter worth $44,000. HighTower Advisors LLC raised its stake in shares of Braskem by 19.4% during the 4th quarter. HighTower Advisors LLC now owns 19,213 shares of the company's stock worth $74,000 after buying an additional 3,126 shares during the last quarter. Finally, Signaturefd LLC acquired a new position in shares of Braskem during the 4th quarter worth $53,000.

Wall Street Analysts Forecast Growth

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

Braskem Trading Down 0.3%

Shares of NYSE:BAK traded down $0.01 during midday trading on Tuesday, hitting $3.64. 450,011 shares of the stock were exchanged, compared to its average volume of 820,065. The stock has a market cap of $1.45 billion, a P/E ratio of -1.03 and a beta of 1.83. Braskem S.A. has a twelve month low of $2.85 and a twelve month high of $7.71. The company has a 50 day moving average price of $3.65 and a 200-day moving average price of $4.09.

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

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.