Braskem SA (NYSE:BAK) is seeing a significant decrease in short interest

Braskem SA (NYSE:BAK – Get Free Report ) was the target of a significant drop in short interest in August. As of August 15th, there was short interest totaling 1,770,000 shares, a decrease of 5.3% from the July 31st total of 1,870,000 shares. Based on an average daily volume of 669,700 shares, the short interest rate is currently 2.6 days.

Analysts set new price targets

Several research firms recently weighed in on BAK. JPMorgan Chase & Co. reduced their target price on shares of Braskem from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Citigroup raised Braskem from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 20th.

Read Braskem’s latest stock report

Braskem’s trading increased by 1.4%

NYSE BAK opened at $6.32 on Monday. Braskem has a 12-month low of $5.28 and a 12-month high of $10.98. The firm has a 50 day moving average price of $6.43 and a two hundred day moving average price of $7.66. The company has a debt-to-equity ratio of 23.25, a current ratio of 1.31, and a quick ratio of 0.84.

Braskem (NYSE:BAK – Get Your Free Report ) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.30. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.56 billion. Braskem had a negative return on equity of 276.59% and a negative net margin of 12.98%. On average, equities analysts predict that Braskem will post -1.3 earnings per share for the current year.

Institutional inputs and outputs

Several institutional investors have recently bought and sold shares of BAK. MBB Public Markets I LLC boosted its holdings in Braskem by 69.5% during the 2nd quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company’s stock worth $10,303,000 after buying an additional 654,806 shares. shares in the last quarter. Marshall Wace LLP boosted its stake in Braskem by 872.0% in the second quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock worth $1,731,000 after buying an additional 240,744 shares in the last quarter. SPX Gestao de Recursos Ltda grew its holdings 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 buying an additional 174,250 shares. actions during that period. Trexquant Investment LP grew its position in 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 during the period. Finally, Boston Partners bought a new stake in shares of Braskem in the first quarter valued at $627,000.

Braskem company profile

(Get a free report)

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 xylene products; fuels such as motor gasoline, liquefied petroleum gas, ethyl tert-butyl ether and methyl tert-butyl ether; intermediates such as cumene; aliphatic, aromatic and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.

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