Braskem (NYSE:BAK) Shares Down 3.1% – Should You Sell?

Braskem S.A. (NYSE:BAK)’s stock price dropped 3.1% during trading on Monday . The stock traded as low as $3.64 and last traded at $3.63. Approximately 667,018 shares were traded during trading, a decline of 15% from the average daily volume of 784,680 shares. The stock had previously closed at $3.75.

Wall Street Analyst Weigh In

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

Braskem Stock Performance

The firm has a market capitalization of $1.44 billion, a P/E ratio of -1.02 and a beta of 2.06. The firm has a 50 day simple moving average of $4.23 and a two-hundred day simple moving average of $5.14.

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

Institutional Trading of Braskem

A number of hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new position in Braskem in the 4th quarter valued at $164,000. Point72 Asset Management L.P. boosted its holdings in shares of Braskem by 2.3% in the 4th quarter. Point72 Asset Management L.P. now owns 180,900 shares of the company’s stock worth $698,000 after buying an additional 4,100 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Braskem by 55.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 46,445 shares of the company’s stock valued at $179,000 after buying an additional 16,545 shares during the period. Bank of America Corp DE increased its holdings in Braskem by 431.0% during the fourth quarter. Bank of America Corp DE now owns 134,824 shares of the company’s stock worth $520,000 after buying an additional 109,433 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Braskem by 47.2% in the fourth quarter. Jane Street Group LLC now owns 133,564 shares of the company’s stock worth $516,000 after acquiring an additional 42,828 shares during the period.

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.