Braskem (NYSE:BAK) Trading Down 3.5% – Time to Sell?

Braskem S.A. (NYSE:BAK)’s stock price dropped 3.5% on Friday . The stock traded as low as $3.85 and last traded at $3.86. Approximately 372,951 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 717,406 shares. The stock had previously closed at $4.00.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Braskem from $10.00 to $9.50 and set a “neutral” rating for the company in a research note on Tuesday, September 10th. UBS Group upgraded Braskem from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $7.70 to $10.00 in a research report on Wednesday, September 18th.

Braskem Price Performance

The business has a fifty day moving average price of $4.92 and a 200 day moving average price of $6.01. The company has a debt-to-equity ratio of 23.25, a current ratio of 1.28 and a quick ratio of 0.76. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -1.06 and a beta of 1.98.

Hedge Funds Weigh In On Braskem

Several large investors have recently bought and sold shares of BAK. American Century Companies Inc. boosted its holdings in shares of Braskem by 1.6% in the second quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock valued at $722,000 after acquiring an additional 1,807 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Braskem by 876.1% during the third quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company’s stock worth $40,000 after purchasing an additional 4,871 shares in the last quarter. State Street Corp lifted its position in Braskem by 2.3% in the third quarter. State Street Corp now owns 228,110 shares of the company’s stock worth $1,674,000 after purchasing an additional 5,124 shares during the period. MQS Management LLC bought a new position in Braskem during the 3rd quarter valued at $77,000. Finally, Virtu Financial LLC acquired a new position in shares of Braskem during the 3rd quarter valued at $88,000.

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.