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

Braskem S.A. (NYSE:BAK) was the recipient of a significant increase in short interest in February. As of February 15th, there was short interest totalling 3,050,000 shares, an increase of 39.3% from the January 31st total of 2,190,000 shares. Based on an average daily volume of 995,200 shares, the short-interest ratio is presently 3.1 days.

Braskem Trading Down 4.9 %

BAK traded down $0.18 during trading hours on Monday, hitting $3.51. The company’s stock had a trading volume of 1,046,990 shares, compared to its average volume of 866,070. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -0.99 and a beta of 2.03. The business’s 50-day moving average price is $4.28 and its 200-day moving average price is $5.41. Braskem has a 12 month low of $3.50 and a 12 month high of $10.98.

Braskem (NYSE:BAK) last posted its earnings results on Thursday, February 27th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.52 billion. Braskem had a negative return on equity of 439.59% and a negative net margin of 9.88%. On average, analysts forecast that Braskem will post -0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Scotiabank downgraded Braskem from a “sector outperform” rating to a “sector perform” rating in a research report on Monday.

Institutional Investors Weigh In On Braskem

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Braskem by 876.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company’s stock valued at $40,000 after purchasing an additional 4,871 shares during the last quarter. MQS Management LLC bought a new stake in Braskem in the third quarter worth $77,000. R Squared Ltd purchased a new position in Braskem during the fourth quarter worth $44,000. Virtu Financial LLC bought a new position in Braskem during the third quarter valued at $88,000. Finally, Blue Trust Inc. grew its holdings in Braskem by 2,510.3% during the 4th quarter. Blue Trust Inc. now owns 13,130 shares of the company’s stock valued at $51,000 after purchasing an additional 12,627 shares during the last quarter.

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.