Braskem S.A. (NYSE:BAK) Given Average Rating of “Reduce” by Analysts

Braskem S.A. (NYSE:BAK) has been given a consensus recommendation of “Reduce” by the six ratings firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $4.40.

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Braskem in a report on Wednesday, January 21st. Zacks Research downgraded shares of Braskem from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Citigroup lowered shares of Braskem from a “hold” rating to a “sell” rating in a research report on Monday, February 16th.

Braskem Stock Down 7.6%

Shares of NYSE BAK opened at $4.37 on Monday. Braskem has a one year low of $2.32 and a one year high of $5.30. The business’s fifty day moving average price is $3.71 and its 200-day moving average price is $3.17.

Institutional Investors Weigh In On Braskem

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC bought a new position in shares of Braskem in the fourth quarter worth $112,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Braskem during the 4th quarter valued at $232,000. Squarepoint Ops LLC bought a new stake in shares of Braskem during the 4th quarter valued at $79,000. Marshall Wace LLP purchased a new stake in Braskem during the 4th quarter worth about $477,000. Finally, State Street Corp boosted its stake in Braskem by 7.2% in the 4th quarter. State Street Corp now owns 311,507 shares of the company’s stock worth $919,000 after purchasing an additional 20,805 shares during the period.

About Braskem

Braskem (NYSE:BAK) is a leading integrated petrochemical company based in São Paulo, Brazil, and holds the distinction of being the largest thermoplastic resins producer in Latin America. The company operates across the entire value chain, from feedstock sourcing and polymer production to distribution and recycling. Braskem’s comprehensive approach to petrochemical manufacturing enables it to serve a diverse set of end markets with a broad portfolio of products.

Braskem’s core product lines include polypropylene, polyethylene and polyvinyl chloride (PVC), which are used in industries such as packaging, automotive, construction and electrical & electronics.