Braskem (NYSE:BAK) Sets New 52-Week Low at $6.30

Braskem S.A. (NYSE:BAK) shares hit a new 52-week low on Monday . The stock traded as low as $6.30 and last traded at $6.31, with a volume of 380861 shares changing hands. The stock had previously closed at $6.45.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lowered their price objective on Braskem from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th.

Braskem Price Performance

The company has a current ratio of 1.46, a quick ratio of 0.95 and a debt-to-equity ratio of 23.25. The company has a market capitalization of $2.85 billion, a P/E ratio of -2.00 and a beta of 1.98. The firm has a fifty day moving average of $7.44 and a 200 day moving average of $8.08.

Braskem (NYSE:BAK) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.12). The firm had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Braskem had a negative return on equity of 146.26% and a negative net margin of 8.98%. On average, equities research analysts anticipate that Braskem S.A. will post -1.47 EPS for the current year.

Institutional Investors Weigh In On Braskem

A number of large investors have recently made changes to their positions in the company. Alpine Global Management LLC purchased a new stake in Braskem during the third quarter valued at approximately $82,000. Trexquant Investment LP raised its holdings in Braskem by 12.5% in the 3rd quarter. Trexquant Investment LP now owns 47,753 shares of the company’s stock worth $392,000 after purchasing an additional 5,294 shares during the period. Jump Financial LLC raised its holdings in Braskem by 4.3% in the 4th quarter. Jump Financial LLC now owns 67,392 shares of the company’s stock worth $594,000 after purchasing an additional 2,790 shares during the period. Boston Partners purchased a new position in Braskem during the first quarter valued at $627,000. Finally, SPX Gestao de Recursos Ltda grew its holdings in Braskem by 266.9% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 239,536 shares of the company’s stock valued at $2,113,000 after purchasing an additional 174,250 shares during the period.

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.