Braskem (NYSE:BAK) Shares Down 5.8% – Should You Sell?

Shares of Braskem S.A. (NYSE:BAK) traded down 5.8% on Tuesday . The stock traded as low as $4.54 and last traded at $4.55. 816,475 shares were traded during trading, a decline of 66% from the average session volume of 2,412,421 shares. The stock had previously closed at $4.83.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BAK shares. Zacks Research cut shares of Braskem from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Bradesco Corretora lowered shares of Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 price target on the stock. in a research report on Tuesday, April 21st. JPMorgan Chase & Co. raised shares of Braskem from a “neutral” rating to an “overweight” rating and set a $5.50 price objective for the company in a report on Tuesday, May 12th. Citigroup upgraded shares of Braskem from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Braskem in a report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $3.40.

Braskem Trading Down 2.3%

The business has a 50-day moving average price of $4.02 and a two-hundred day moving average price of $3.57. The stock has a market capitalization of $1.88 billion, a P/E ratio of -1.12, a P/E/G ratio of 0.14 and a beta of 1.56.

Braskem (NYSE:BAK) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.48. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Braskem had a negative return on equity of 23.17% and a negative net margin of 13.72%. On average, sell-side analysts forecast that Braskem S.A. will post 2.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Braskem

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position 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 valued at $25,000 after buying an additional 7,003 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Braskem by 222.1% in the fourth quarter. Quadrant Capital Group LLC now owns 12,809 shares of the company’s stock valued at $38,000 after acquiring an additional 8,832 shares during the last quarter. Signaturefd LLC raised its position in 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 purchasing an additional 4,513 shares in the last quarter. Cetera Investment Advisers acquired a new position in Braskem during the first quarter valued at approximately $51,000. Finally, Ballentine Partners LLC bought a new stake in Braskem during the third quarter worth $34,000.

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.