Braskem S.A. (NYSE:BAK) Short Interest Down 15.4% in July

Braskem S.A. (NYSE:BAK) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 1,870,000 shares, a decline of 15.4% from the July 15th total of 2,210,000 shares. Based on an average trading volume of 676,600 shares, the days-to-cover ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. decreased their price objective on shares of Braskem from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th.

Braskem Trading Up 2.3 %

Shares of NYSE:BAK traded up $0.14 during trading on Friday, reaching $6.22. The stock had a trading volume of 340,657 shares, compared to its average volume of 874,051. The company has a quick ratio of 0.95, a current ratio of 1.46 and a debt-to-equity ratio of 23.25. The stock has a market cap of $2.81 billion, a P/E ratio of -1.93 and a beta of 2.05. The business has a fifty day moving average price of $6.50 and a 200-day moving average price of $7.71. Braskem has a fifty-two week low of $5.28 and a fifty-two week high of $10.98.

Institutional Investors Weigh In On Braskem

A number of institutional investors have recently bought and sold shares of BAK. Jump Financial LLC grew its holdings in shares of Braskem by 4.3% during the 4th quarter. Jump Financial LLC now owns 67,392 shares of the company’s stock worth $594,000 after purchasing an additional 2,790 shares during the period. Boston Partners acquired a new position in Braskem during the first quarter valued at approximately $627,000. American Century Companies Inc. lifted its position in Braskem by 1.6% during the second 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 in the last quarter. Trexquant Investment LP grew its stake in Braskem by 197.1% during the fourth quarter. Trexquant Investment LP now owns 141,852 shares of the company’s stock worth $1,251,000 after buying an additional 94,099 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Braskem by 872.0% in the second quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock worth $1,731,000 after acquiring an additional 240,744 shares in the last quarter.

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.