Braskem (NYSE:BAK) Stock Price Down 4.2% – Time to Sell?

Braskem S.A. (NYSE:BAK) fell 4.2% on Friday . The company traded as low as $3.83 and last traded at $3.79. 13,550 shares were traded during mid-day trading, a decline of 98% from the average session volume of 782,910 shares. The stock had previously closed at $3.95.

Analyst Ratings Changes

Separately, Scotiabank downgraded Braskem from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, March 3rd.

Braskem Stock Down 8.4 %

The company’s 50-day moving average price is $3.64 and its 200-day moving average price is $4.32. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -1.02 and a beta of 1.83.

Braskem (NYSE:BAK) last announced its earnings results on Thursday, February 27th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.52 billion. Braskem had a negative net margin of 9.88% and a negative return on equity of 439.59%. Analysts predict that Braskem S.A. will post -0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Braskem

A number of large investors have recently modified their holdings of BAK. Covalis Capital LLP grew its stake in Braskem by 27.1% during the 4th quarter. Covalis Capital LLP now owns 1,173,852 shares of the company’s stock valued at $4,531,000 after acquiring an additional 250,215 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Braskem by 876.1% in 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 in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Braskem by 126.1% in the fourth quarter. Renaissance Technologies LLC now owns 329,910 shares of the company’s stock valued at $1,273,000 after purchasing an additional 184,010 shares during the last quarter. Walleye Capital LLC lifted its position in Braskem by 60.5% during the fourth quarter. Walleye Capital LLC now owns 512,076 shares of the company’s stock worth $1,977,000 after buying an additional 193,120 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Braskem during the fourth quarter worth $44,000.

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.