Braskem (NYSE:BAK) Stock Price Up 9.9% – Should You Buy?

Braskem S.A. (NYSE:BAK) shares traded up 9.9% on Wednesday . The company traded as high as $2.10 and last traded at $2.1650. Approximately 387,572 shares changed hands during trading, a decline of 83% from the average session volume of 2,344,772 shares. The stock had previously closed at $1.97.

Analyst Ratings Changes

Several analysts have commented on BAK shares. JPMorgan Chase & Co. lowered shares of 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 report on Monday, May 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Braskem in a research report on Friday, July 17th. Finally, Citigroup cut Braskem from a “neutral” rating to a “sell” rating in a research note on Thursday, June 25th. Three investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and an average target price of $3.40.

Braskem Trading Down 1.0%

The company has a market capitalization of $793.22 million, a P/E ratio of -0.82, a price-to-earnings-growth ratio of 0.12 and a beta of 1.62. The company’s 50 day moving average is $2.51 and its 200-day moving average is $3.48.

Braskem (NYSE:BAK) last posted its quarterly earnings data on Friday, June 26th. The company reported $1.61 EPS for the quarter. The business had revenue of $4.20 billion for the quarter. Braskem had a negative net margin of 7.28% and a negative return on equity of 67.75%. Analysts predict that Braskem S.A. will post 1.51 EPS for the current fiscal year.

Institutional Trading of Braskem

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its stake in shares of Braskem by 444.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock worth $25,000 after buying an additional 7,003 shares during the last quarter. Quadrant Capital Group LLC raised its stake in 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 last quarter. Evergreen Capital Management LLC purchased a new position in Braskem during the fourth quarter valued at $44,000. Cetera Investment Advisers bought a new stake in Braskem in the first quarter worth $51,000. Finally, Brevan Howard Capital Management LP bought a new stake in Braskem in the third quarter worth $64,000.

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.