Graham Capital Management L.P. Invests $532,000 in Braskem S.A. $BAK

Key Points

• Graham Capital Management L.P. acquired 138,190 shares of Braskem S.A. (NYSE:BAK), totaling approximately $532,000 in value, in the first quarter of the year.
• Braskem stock has shown a 3.4% increase, currently trading at $3.53, with a market capitalization of $1.41 billion.
• Analysts have mixed views on Braskem, with a consensus rating of "Moderate Buy" and a price target of $7.50, following recent upgrades and downgrades from various brokerages.

Graham Capital Management L.P. acquired a new position in shares of Braskem S.A. (NYSE:BAK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 138,190 shares of the company's stock, valued at approximately $532,000.

Other hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. lifted its stake in Braskem by 2.3% in the fourth quarter. Point72 Asset Management L.P. now owns 180,900 shares of the company's stock valued at $698,000 after buying an additional 4,100 shares in the last quarter. R Squared Ltd raised its stake in shares of Braskem by 55.2% in the 1st quarter. R Squared Ltd now owns 17,600 shares of the company's stock valued at $68,000 after purchasing an additional 6,260 shares during the period. American Century Companies Inc. lifted its holdings in shares of Braskem by 12.6% in the first quarter. American Century Companies Inc. now owns 110,035 shares of the company's stock valued at $424,000 after purchasing an additional 12,300 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Braskem during the first quarter worth about $58,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Braskem by 55.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 46,445 shares of the company's stock worth $179,000 after buying an additional 16,545 shares in the last quarter.

Braskem Stock Performance

NYSE:BAK traded up $0.06 during mid-day trading on Thursday, hitting $3.35. The stock had a trading volume of 500,745 shares, compared to its average volume of 802,483. Braskem S.A. has a twelve month low of $2.80 and a twelve month high of $7.71. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -1.32 and a beta of 1.81. The company's 50 day simple moving average is $3.25 and its 200 day simple moving average is $3.51.

Braskem (NYSE:BAK - Get Free Report) last announced its quarterly 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 analyst estimates of $18.76 billion. As a group, equities analysts forecast that Braskem S.A. will post -0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. JPMorgan Chase & Co. cut their target price on Braskem from $6.00 to $5.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 27th. Zacks Research raised shares of Braskem from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Braskem has an average rating of "Moderate Buy" and an average price target of $7.50.

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.