Braskem (NYSE:BAK) Shares Up 1.2%

Braskem S.A. (NYSE:BAK) shot up 1.2% during mid-day trading on Monday . The stock traded as high as $8.80 and last traded at $8.76. 599,930 shares traded hands during trading, a decline of 40% from the average session volume of 1,002,539 shares. The stock had previously closed at $8.65.

Braskem Price Performance

The business’s 50-day moving average is $8.99 and its two-hundred day moving average is $8.11. The company has a current ratio of 1.53, a quick ratio of 1.02 and a debt-to-equity ratio of 16.23.

Braskem (NYSE:BAK) last announced its quarterly earnings results on Tuesday, March 19th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.25). Braskem had a negative return on equity of 87.01% and a negative net margin of 6.61%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.50 billion. As a group, sell-side analysts expect that Braskem S.A. will post -0.99 earnings per share for the current year.

Hedge Funds Weigh In On Braskem

Institutional investors have recently added to or reduced their stakes in the company. SPX Gestao de Recursos Ltda raised its stake in shares of Braskem by 266.9% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 239,536 shares of the company’s stock valued at $2,113,000 after purchasing an additional 174,250 shares in the last quarter. Centric Wealth Management acquired a new stake in shares of Braskem in the 3rd quarter valued at about $1,321,000. Trexquant Investment LP raised its stake in shares of Braskem by 197.1% in the 4th quarter. Trexquant Investment LP now owns 141,852 shares of the company’s stock valued at $1,251,000 after purchasing an additional 94,099 shares in the last quarter. Optiver Holding B.V. raised its stake in shares of Braskem by 16.8% in the 3rd quarter. Optiver Holding B.V. now owns 417,432 shares of the company’s stock valued at $3,427,000 after purchasing an additional 59,916 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new stake in shares of Braskem in the 3rd quarter valued at about $82,000.

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.