Citadel Advisors LLC Sells 145,990 Shares of Braskem S.A. (NYSE:BAK)

Citadel Advisors LLC trimmed its position in Braskem S.A. (NYSE:BAK - Free Report) by 43.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,056 shares of the company's stock after selling 145,990 shares during the quarter. Citadel Advisors LLC's holdings in Braskem were worth $726,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BAK. Covalis Capital LLP increased its stake in Braskem by 27.1% in the 4th quarter. Covalis Capital LLP now owns 1,173,852 shares of the company's stock worth $4,531,000 after purchasing an additional 250,215 shares in the last quarter. Walleye Capital LLC grew its holdings in Braskem by 60.5% during the 4th quarter. Walleye Capital LLC now owns 512,076 shares of the company's stock worth $1,977,000 after acquiring an additional 193,120 shares during the period. Renaissance Technologies LLC raised its position in shares of Braskem by 126.1% during the fourth quarter. Renaissance Technologies LLC now owns 329,910 shares of the company's stock worth $1,273,000 after purchasing an additional 184,010 shares during the period. Trexquant Investment LP grew its position in Braskem by 145.8% in the fourth quarter. Trexquant Investment LP now owns 258,638 shares of the company's stock valued at $998,000 after purchasing an additional 153,401 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Braskem by 431.0% in the 4th quarter. Bank of America Corp DE now owns 134,824 shares of the company's stock valued at $520,000 after acquiring an additional 109,433 shares during the period.

Braskem Trading Up 1.4%

Shares of BAK traded up $0.05 during midday trading on Wednesday, reaching $3.70. The stock had a trading volume of 663,492 shares, compared to its average volume of 820,051. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -1.04 and a beta of 1.83. The company's 50-day moving average is $3.64 and its 200 day moving average is $4.08. Braskem S.A. has a 12-month low of $2.85 and a 12-month high of $7.71.

Braskem (NYSE:BAK - Get Free Report) last released 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. Braskem had a negative net margin of 9.88% and a negative return on equity of 439.59%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $22.86 billion. Research analysts forecast that Braskem S.A. will post -0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.