Braskem S.A. (NYSE:BAK) Short Interest Down 15.4% in July

Braskem S.A. (NYSE:BAK) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 1,870,000 shares, a decrease of 15.4% from the July 15th total of 2,210,000 shares. Based on an average trading volume of 676,600 shares, the days-to-cover ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its position in shares of Braskem by 1.6% during the second quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock valued at $722,000 after buying an additional 1,807 shares during the period. Jump Financial LLC boosted its holdings in Braskem by 4.3% during the 4th quarter. Jump Financial LLC now owns 67,392 shares of the company’s stock valued at $594,000 after acquiring an additional 2,790 shares during the period. Boston Partners bought a new position in Braskem in the 1st quarter valued at $627,000. Trexquant Investment LP grew its position in Braskem by 197.1% in the 4th quarter. Trexquant Investment LP now owns 141,852 shares of the company’s stock valued at $1,251,000 after acquiring an additional 94,099 shares during the last quarter. Finally, SPX Gestao de Recursos Ltda increased its stake in Braskem by 266.9% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 239,536 shares of the company’s stock worth $2,113,000 after purchasing an additional 174,250 shares during the period.

Braskem Price Performance

BAK traded up $0.14 during trading on Friday, hitting $6.22. 340,657 shares of the company traded hands, compared to its average volume of 874,051. 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 cap of $2.81 billion, a PE ratio of -1.93 and a beta of 2.05. The stock’s 50-day simple moving average is $6.50 and its two-hundred day simple moving average is $7.71. Braskem has a 1 year low of $5.28 and a 1 year high of $10.98.

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.