Braskem S.A. (NYSE:BAK – Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $4.90, but opened at $4.69. Braskem shares last traded at $4.8530, with a volume of 358,820 shares trading hands.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. Bradesco Corretora downgraded Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 price objective for the company. in a report on Tuesday, April 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Braskem in a report on Monday, April 20th. Citigroup raised shares of Braskem from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. JPMorgan Chase & Co. upgraded Braskem from a “neutral” rating to an “overweight” rating and set a $5.50 target price for the company in a report on Tuesday, May 12th. Finally, Zacks Research upgraded Braskem from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $3.40.
Read Our Latest Research Report on Braskem
Braskem Price Performance
Braskem (NYSE:BAK – Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.48. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.39 billion. Braskem had a negative return on equity of 30.40% and a negative net margin of 13.72%. Sell-side analysts anticipate that Braskem S.A. will post -0.06 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Braskem
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in Braskem by 444.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock worth $25,000 after buying an additional 7,003 shares during the last quarter. Ballentine Partners LLC bought a new position in Braskem during the third quarter worth about $34,000. Quadrant Capital Group LLC boosted its holdings in Braskem by 222.1% during the fourth quarter. Quadrant Capital Group LLC now owns 12,809 shares of the company’s stock worth $38,000 after buying an additional 8,832 shares during the last quarter. Signaturefd LLC boosted its holdings in Braskem by 50.1% during the fourth quarter. Signaturefd LLC now owns 13,524 shares of the company’s stock worth $40,000 after buying an additional 4,513 shares during the last quarter. Finally, Evergreen Capital Management LLC bought a new position in Braskem during the fourth quarter worth about $44,000.
About Braskem
Braskem (NYSE:BAK) is a leading integrated petrochemical company based in São Paulo, Brazil, and holds the distinction of being the largest thermoplastic resins producer in Latin America. The company operates across the entire value chain, from feedstock sourcing and polymer production to distribution and recycling. Braskem’s comprehensive approach to petrochemical manufacturing enables it to serve a diverse set of end markets with a broad portfolio of products.
Braskem’s core product lines include polypropylene, polyethylene and polyvinyl chloride (PVC), which are used in industries such as packaging, automotive, construction and electrical & electronics.
Read More
- Five stocks we like better than Braskem
- Why Applied Optoelectronics Stock May Be Near a Turning Point
- From High-Yield to High-Growth: 3 Stocks Boosting Dividends
- Is Everspin Technologies the Next AI Edge Breakout?
- 5 Robotics Stocks to Watch as Physical AI Builds Momentum
Receive News & Ratings for Braskem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Braskem and related companies with MarketBeat.com's FREE daily email newsletter.
