Braskem (NYSE:BAK) Shares Gap Down to $9.87

Posted by on May 17th, 2023

Braskem S.A. (NYSE:BAK – Get Rating)’s share price gapped down prior to trading on Monday . The stock had previously closed at $9.87, but opened at $9.65. Braskem shares last traded at $9.56, with a volume of 179,087 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BAK shares. Citigroup raised shares of Braskem from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 28th. UBS Group upgraded Braskem from a “neutral” rating to a “buy” rating in a report on Friday, April 14th. Finally, Scotiabank raised Braskem from a “sector perform” rating to an “outperform” rating and set a $16.75 price target for the company in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Braskem presently has a consensus rating of “Hold” and a consensus target price of $16.75.

Braskem Price Performance

The company has a quick ratio of 0.84, a current ratio of 1.42 and a debt-to-equity ratio of 7.75. The business has a fifty day moving average of $7.93 and a 200 day moving average of $8.95. The firm has a market cap of $4.18 billion, a P/E ratio of -4.68 and a beta of 1.70.

Braskem (NYSE:BAK – Get Rating) last released its quarterly earnings data on Thursday, March 23rd. The company reported ($0.82) EPS for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.27. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Braskem had a negative net margin of 0.42% and a negative return on equity of 26.31%. On average, sell-side analysts anticipate that Braskem S.A. will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Hsbc Holdings PLC lifted its holdings in Braskem by 5.9% during the 3rd quarter. Hsbc Holdings PLC now owns 16,888 shares of the company’s stock worth $164,000 after purchasing an additional 940 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in shares of Braskem by 156.6% during the first quarter. Advisor Group Holdings Inc. now owns 1,740 shares of the company’s stock worth $33,000 after buying an additional 1,062 shares in the last quarter. Veriti Management LLC boosted its position in shares of Braskem by 8.5% in the fourth quarter. Veriti Management LLC now owns 19,161 shares of the company’s stock valued at $176,000 after acquiring an additional 1,508 shares during the period. AQR Capital Management LLC grew its stake in shares of Braskem by 12.5% in the second quarter. AQR Capital Management LLC now owns 16,796 shares of the company’s stock valued at $240,000 after acquiring an additional 1,871 shares in the last quarter. Finally, Atlas Capital Advisors LLC increased its position in Braskem by 85.9% during the fourth quarter. Atlas Capital Advisors LLC now owns 4,298 shares of the company’s stock worth $40,000 after acquiring an additional 1,986 shares during the period. 0.01% of the stock is owned by institutional investors.

About Braskem

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Braskem SA engages in the manufacture of petrochemicals and other related products. It operates through the following segments: Brazil, USA, and Europe and Mexico. The Brazil segment includes production and sale of chemicals, supply of electricity, and production and sale of PE. The USA and Europe segment involves production, operation, and sale of polypropylene in the United States and Germany.

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