Braskem (NYSE:BAK) Hits New 1-Year Low – What’s Next?

Braskem S.A. (NYSE:BAK)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $3.69 and last traded at $3.75, with a volume of 80675 shares traded. The stock had previously closed at $3.73.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded shares of Braskem from a “neutral” rating to a “buy” rating and increased their target price for the company from $7.70 to $10.00 in a report on Wednesday, September 18th.

Braskem Stock Up 1.1 %

The stock has a 50-day moving average of $4.69 and a 200 day moving average of $5.91. The company has a market capitalization of $1.50 billion, a PE ratio of -1.06 and a beta of 2.01. The company has a quick ratio of 0.76, a current ratio of 1.28 and a debt-to-equity ratio of 23.25.

Institutional Trading of Braskem

A number of large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its position in shares of Braskem by 1.6% during the 2nd 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 last quarter. JPMorgan Chase & Co. lifted its holdings in Braskem by 876.1% during the third quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company’s stock valued at $40,000 after purchasing an additional 4,871 shares during the last quarter. State Street Corp boosted its position in Braskem by 2.3% during the third quarter. State Street Corp now owns 228,110 shares of the company’s stock worth $1,674,000 after purchasing an additional 5,124 shares during the period. MQS Management LLC purchased a new position in shares of Braskem in the third quarter worth about $77,000. Finally, Virtu Financial LLC purchased a new position in shares of Braskem in the third quarter worth about $88,000.

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.