Braskem (NYSE:BAK) Sets New 52-Week Low – Time to Sell?

Braskem S.A. (NYSE:BAK)’s share price reached a new 52-week low on Thursday . The company traded as low as $5.20 and last traded at $5.20, with a volume of 296807 shares traded. The stock had previously closed at $5.27.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BAK shares. Citigroup raised Braskem from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 20th. UBS Group raised Braskem from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $7.70 to $10.00 in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lowered their price objective on Braskem from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th.

Braskem Trading Down 1.5 %

The stock has a 50-day simple moving average of $6.57 and a 200 day simple moving average of $6.74. The company has a current ratio of 1.28, a quick ratio of 0.84 and a debt-to-equity ratio of 23.25. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -1.48 and a beta of 2.05.

Institutional Trading of Braskem

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MQS Management LLC purchased a new position in shares of Braskem during the 3rd quarter valued at about $77,000. Verition Fund Management LLC purchased a new position in shares of Braskem during the 3rd quarter valued at about $123,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Braskem during the 3rd quarter valued at about $197,000. Point72 Asset Management L.P. raised its stake in shares of Braskem by 60.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 41,200 shares of the company’s stock valued at $266,000 after buying an additional 15,600 shares during the last quarter. Finally, Boston Partners purchased a new position in shares of Braskem during the 1st quarter valued at about $627,000.

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.