Braskem SA (BAK) Trading 2.2% Higher
Braskem SA (NYSE:BAK) traded up 2.2% on Wednesday . The stock traded as high as $11.53 and last traded at $11.50, with a volume of 169,243 shares traded. The stock had previously closed at $11.25.
Several equities research analysts have weighed in on the company. Bank of America Corp. raised Braskem SA from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 24th. Zacks Investment Research raised Braskem SA from a “hold” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research report on Wednesday, April 27th.
The firm has a market cap of $4.48 billion and a PE ratio of 4.12. The company’s 50 day moving average price is $11.55 and its 200-day moving average price is $12.57.
An institutional investor recently raised its position in Braskem SA stock. Morgan Stanley increased its position in shares of Braskem SA (NYSE:BAK) by 83.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,344,284 shares of the company’s stock after buying an additional 611,328 shares during the period. Morgan Stanley owned about 0.34% of Braskem SA worth $18,201,000 as of its most recent SEC filing.
Braskem SA produces thermoplastic resins. The Company’s segments are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, the provision of industrial services, and the production, supply and sale of electric energy.
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