Braskem (NYSE:BAK) Reaches New 12-Month Low – Time to Sell?

Braskem S.A. (NYSE:BAK) hit a new 52-week low on Thursday . The company traded as low as $3.92 and last traded at $3.98, with a volume of 1366840 shares. The stock had previously closed at $4.27.

Analyst Ratings Changes

Several analysts have recently weighed in on BAK shares. UBS Group upgraded shares of Braskem from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $7.70 to $10.00 in a research note on Wednesday, September 18th. JPMorgan Chase & Co. decreased their target price on Braskem from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th.

Braskem Trading Down 1.0 %

The company has a debt-to-equity ratio of 23.25, a quick ratio of 0.76 and a current ratio of 1.28. The firm has a market cap of $1.60 billion, a P/E ratio of -1.13 and a beta of 1.98. The firm has a 50 day simple moving average of $5.42 and a 200 day simple moving average of $6.22.

Hedge Funds Weigh In On Braskem

Large investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in Braskem in the 3rd quarter worth approximately $88,000. Jane Street Group LLC increased its holdings in shares of Braskem by 106.8% in the third quarter. Jane Street Group LLC now owns 90,736 shares of the company’s stock worth $666,000 after purchasing an additional 46,858 shares during the period. State Street Corp increased its holdings in shares of 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. Point72 Asset Management L.P. raised its position in shares of Braskem by 329.1% in the third quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock worth $1,298,000 after buying an additional 135,600 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in Braskem during the third quarter valued at $123,000.

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.