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

Braskem S.A. (NYSE:BAK) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 1,990,000 shares, a growth of 25.2% from the November 30th total of 1,590,000 shares. Based on an average daily volume of 814,800 shares, the short-interest ratio is currently 2.4 days.

Braskem Trading Up 1.6 %

Braskem stock opened at $3.86 on Tuesday. The firm has a market capitalization of $1.54 billion, a PE ratio of -1.09 and a beta of 1.98. The business’s 50-day simple moving average is $5.16 and its 200-day simple moving average is $6.11. 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 52 week low of $3.70 and a 52 week high of $10.98.

Institutional Investors Weigh In On Braskem

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. raised its stake in shares of Braskem by 1.6% in 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 in the last quarter. Marshall Wace LLP raised its position in 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 purchasing an additional 240,744 shares in the last quarter. MBB Public Markets I LLC lifted its stake 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 purchasing an additional 654,806 shares during the period. Point72 Asset Management L.P. boosted its holdings in Braskem by 60.9% during the second quarter. Point72 Asset Management L.P. now owns 41,200 shares of the company’s stock valued at $266,000 after purchasing an additional 15,600 shares in the last quarter. Finally, MQS Management LLC acquired a new position in Braskem in the third quarter worth $77,000.

Wall Street Analysts Forecast Growth

BAK has been the subject of several recent research reports. UBS Group raised Braskem from a “neutral” rating to a “buy” rating and boosted their price target for the company from $7.70 to $10.00 in a research note on Wednesday, September 18th. JPMorgan Chase & Co. cut their price target on shares of Braskem from $10.00 to $9.50 and set a “neutral” rating on the stock in a report on Tuesday, September 10th.

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.