Braskem S.A. (NYSE:BAK) Short Interest Update

Braskem S.A. (NYSE:BAK) was the recipient of a significant growth in short interest in November. As of November 15th, there was short interest totalling 1,860,000 shares, a growth of 19.2% from the October 31st total of 1,560,000 shares. Based on an average trading volume of 675,500 shares, the days-to-cover ratio is presently 2.8 days.

Analyst Ratings Changes

Several equities research analysts have commented on BAK shares. Citigroup upgraded shares of Braskem from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. lowered their target price on shares of Braskem from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. Finally, UBS Group upgraded shares of Braskem from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.70 to $10.00 in a research report on Wednesday, September 18th.

Hedge Funds Weigh In On Braskem

Several hedge funds have recently added to or reduced their stakes in BAK. Boston Partners purchased a new stake in shares of Braskem in the first quarter valued at about $627,000. Marshall Wace LLP lifted its stake in Braskem by 872.0% in the 2nd quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock valued at $1,731,000 after buying an additional 240,744 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Braskem by 60.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 41,200 shares of the company’s stock valued at $266,000 after buying an additional 15,600 shares in the last quarter. American Century Companies Inc. grew its holdings in Braskem by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock valued at $722,000 after buying an additional 1,807 shares during the last quarter. Finally, MBB Public Markets I LLC increased its position in Braskem by 69.5% during the second quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company’s stock worth $10,303,000 after buying an additional 654,806 shares in the last quarter.

Braskem Stock Performance

Shares of BAK stock opened at $5.12 on Tuesday. The company has a debt-to-equity ratio of 23.25, a quick ratio of 0.76 and a current ratio of 1.28. Braskem has a fifty-two week low of $4.68 and a fifty-two week high of $10.98. The business has a fifty day simple moving average of $6.19 and a 200-day simple moving average of $6.50.

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.