Braskem (NYSE:BAK) Shares Gap Down to $6.88

Braskem S.A. (NYSE:BAK) shares gapped down before the market opened on Monday . The stock had previously closed at $6.88, but opened at $6.70. Braskem shares last traded at $6.66, with a volume of 199,872 shares changing hands.

Wall Street Analysts Forecast Growth

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

Braskem Stock Performance

The company has a debt-to-equity ratio of 23.25, a current ratio of 1.46 and a quick ratio of 0.95. The business has a fifty day simple moving average of $7.82 and a two-hundred day simple moving average of $8.11.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Trexquant Investment LP increased its stake in shares of 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 in the last quarter. Jump Financial LLC increased its position in Braskem by 4.3% in the fourth quarter. Jump Financial LLC now owns 67,392 shares of the company’s stock worth $594,000 after buying an additional 2,790 shares in the last quarter. Alpine Global Management LLC bought a new position in shares of Braskem in the third quarter worth about $82,000. Optiver Holding B.V. lifted its position in shares of Braskem by 16.8% during the 3rd quarter. Optiver Holding B.V. now owns 417,432 shares of the company’s stock valued at $3,427,000 after buying an additional 59,916 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda grew its stake in shares of Braskem by 266.9% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 239,536 shares of the company’s stock valued at $2,113,000 after acquiring 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.