Walleye Capital LLC Increases Stock Position in Braskem S.A. (NYSE:BAK)

Walleye Capital LLC grew its position in shares of Braskem S.A. (NYSE:BAK - Free Report) by 60.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 512,076 shares of the company's stock after purchasing an additional 193,120 shares during the period. Walleye Capital LLC owned approximately 0.13% of Braskem worth $1,977,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in shares of Braskem by 126.1% during the 4th quarter. Renaissance Technologies LLC now owns 329,910 shares of the company's stock valued at $1,273,000 after purchasing an additional 184,010 shares during the last quarter. Quadrant Capital Group LLC bought a new position in shares of Braskem during the 4th quarter valued at about $88,000. Trexquant Investment LP increased its position in shares of Braskem by 145.8% during the 4th 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 during the last quarter. Fox Run Management L.L.C. increased its position in shares of Braskem by 103.3% during the 4th quarter. Fox Run Management L.L.C. now owns 35,366 shares of the company's stock valued at $137,000 after purchasing an additional 17,971 shares during the last quarter. Finally, Signaturefd LLC bought a new position in shares of Braskem during the 4th quarter valued at about $53,000.

Analyst Upgrades and Downgrades

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

Braskem Price Performance

Shares of BAK traded up $0.07 during trading hours on Thursday, hitting $4.07. The stock had a trading volume of 225,948 shares, compared to its average volume of 816,090. Braskem S.A. has a 12 month low of $2.85 and a 12 month high of $9.21. The firm has a market capitalization of $1.62 billion, a PE ratio of -1.15 and a beta of 1.80. The stock has a fifty day moving average price of $3.74 and a 200 day moving average price of $4.57.

Braskem (NYSE:BAK - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.01). Braskem had a negative return on equity of 439.59% and a negative net margin of 9.88%. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.52 billion. As a group, analysts anticipate that Braskem S.A. will post -0.77 EPS for the current fiscal 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.