Braskem (NYSE:BAK) Trading Down 7.3% – Time to Sell?

Braskem S.A. (NYSE:BAK) was down 7.3% during mid-day trading on Friday . The company traded as low as $2.21 and last traded at $2.2350. 380,982 shares were traded during trading, a decline of 84% from the average session volume of 2,395,477 shares. The stock had previously closed at $2.41.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup downgraded Braskem from a “neutral” rating to a “sell” rating in a research report on Thursday, June 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Braskem in a research report on Friday, July 17th. JPMorgan Chase & Co. cut Braskem from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 30th. Zacks Research downgraded Braskem from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Bradesco Corretora downgraded shares of Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 price target on the stock. in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Braskem currently has an average rating of “Strong Sell” and a consensus price target of $3.40.

Braskem Price Performance

The stock has a market cap of $930.73 million, a PE ratio of -0.55, a price-to-earnings-growth ratio of 0.13 and a beta of 1.61. The business has a 50 day moving average price of $3.04 and a two-hundred day moving average price of $3.60.

Braskem (NYSE:BAK) last issued its earnings results on Thursday, May 14th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.48. Braskem had a negative net margin of 13.72% and a negative return on equity of 23.17%. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.39 billion. On average, sell-side analysts forecast that Braskem S.A. will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Braskem

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of Braskem by 444.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock valued at $25,000 after acquiring an additional 7,003 shares during the period. Quadrant Capital Group LLC boosted its holdings 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 worth $38,000 after purchasing an additional 8,832 shares during the period. Signaturefd LLC grew its stake in shares of Braskem by 50.1% in the fourth quarter. Signaturefd LLC now owns 13,524 shares of the company’s stock worth $40,000 after purchasing an additional 4,513 shares during the last quarter. Evergreen Capital Management LLC bought a new stake in shares of Braskem in the fourth quarter worth about $44,000. Finally, Cetera Investment Advisers purchased a new position in Braskem during the 1st quarter valued at about $51,000.

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.