Braskem (NYSE:BAK) Trading Down 8.3% – Time to Sell?

Braskem S.A. (NYSE:BAK)’s stock price fell 8.3% on Tuesday . The stock traded as low as $3.52 and last traded at $3.42. 340,651 shares were traded during mid-day trading, a decline of 86% from the average session volume of 2,402,698 shares. The stock had previously closed at $3.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Bradesco Corretora cut shares of Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 target price on the stock. in a research note on Tuesday, April 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Braskem in a report on Monday, April 20th. JPMorgan Chase & Co. raised Braskem from a “neutral” rating to an “overweight” rating and set a $5.50 target price on the stock in a research note on Tuesday, May 12th. Zacks Research downgraded Braskem from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Bank of America downgraded Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 target price on the stock. in a research note on Thursday, March 26th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Braskem has a consensus rating of “Reduce” and a consensus price target of $3.40.

Braskem Stock Down 13.8%

The company has a 50 day simple moving average of $3.99 and a two-hundred day simple moving average of $3.68. The company has a market capitalization of $1.28 billion, a P/E ratio of -0.76, a PEG ratio of 0.08 and a beta of 1.57.

Braskem (NYSE:BAK) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.48. Braskem had a negative return on equity of 23.17% and a negative net margin of 13.72%.The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.39 billion. As a group, research analysts expect that Braskem S.A. will post 3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Braskem

Several large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its position in shares of Braskem by 444.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock valued at $25,000 after buying an additional 7,003 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Braskem by 222.1% during the fourth quarter. Quadrant Capital Group LLC now owns 12,809 shares of the company’s stock valued at $38,000 after buying an additional 8,832 shares during the period. Signaturefd LLC boosted its position in shares of Braskem by 50.1% during the fourth quarter. Signaturefd LLC now owns 13,524 shares of the company’s stock valued at $40,000 after buying an additional 4,513 shares during the period. Cetera Investment Advisers purchased a new position in shares of Braskem during the first quarter valued at approximately $51,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of Braskem during the fourth quarter valued at approximately $44,000.

Braskem Company Profile

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.