Braskem (NYSE:BAK) Shares Gap Up – Time to Buy?

Shares of Braskem S.A. (NYSE:BAK) gapped up before the market opened on Tuesday . The stock had previously closed at $4.17, but opened at $4.58. Braskem shares last traded at $4.79, with a volume of 686,240 shares trading hands.

Braskem Stock Down 2.0 %

The company has a 50-day moving average price of $4.46 and a 200-day moving average price of $5.78. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -1.33, a P/E/G ratio of 2.37 and a beta of 2.01.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BAK. R Squared Ltd bought a new position in shares of Braskem during the 4th quarter worth about $44,000. Blue Trust Inc. grew its position in Braskem by 2,510.3% during the fourth quarter. Blue Trust Inc. now owns 13,130 shares of the company’s stock worth $51,000 after buying an additional 12,627 shares in the last quarter. JPMorgan Chase & Co. increased its stake 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 acquiring an additional 4,871 shares during the period. Virtu Financial LLC acquired a new position in Braskem in the 3rd quarter valued at approximately $88,000. Finally, Jane Street Group LLC lifted its position in shares of Braskem by 106.8% in the 3rd quarter. Jane Street Group LLC now owns 90,736 shares of the company’s stock worth $666,000 after acquiring an additional 46,858 shares during the period.

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.