Braskem (NYSE:BAK) Trading Up 1.2%

Braskem S.A. (NYSE:BAK)’s share price was up 1.2% during trading on Monday . The company traded as high as $8.80 and last traded at $8.76. Approximately 599,930 shares changed hands during trading, a decline of 40% from the average daily volume of 1,002,539 shares. The stock had previously closed at $8.65.

Braskem Stock Performance

The stock has a 50 day simple moving average of $9.06 and a 200 day simple moving average of $8.13. The company has a debt-to-equity ratio of 16.23, a quick ratio of 1.02 and a current ratio of 1.53.

Braskem (NYSE:BAK) last posted its quarterly earnings data on Tuesday, March 19th. The company reported ($0.80) EPS 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 company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.50 billion. Equities research analysts expect that Braskem S.A. will post -0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Braskem

Hedge funds and other institutional investors have recently modified their holdings of the business. Alpine Global Management LLC bought a new position in shares of Braskem in the 3rd quarter valued at $82,000. Trexquant Investment LP grew its position in Braskem by 12.5% during the 3rd quarter. Trexquant Investment LP now owns 47,753 shares of the company’s stock worth $392,000 after acquiring an additional 5,294 shares during the last quarter. Jump Financial LLC grew its position in Braskem by 4.3% during the 4th quarter. Jump Financial LLC now owns 67,392 shares of the company’s stock worth $594,000 after acquiring an additional 2,790 shares during the last quarter. Centric Wealth Management bought a new stake in Braskem during the 3rd quarter worth $1,321,000. Finally, SPX Gestao de Recursos Ltda grew its position in Braskem by 266.9% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 239,536 shares of the company’s stock worth $2,113,000 after acquiring an additional 174,250 shares during the last quarter.

Braskem Company Profile

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.