Shares of Braskem SA (NYSE:BAK) were down 2.4% during mid-day trading on Thursday . The company traded as low as $11.33 and last traded at $11.39, with a volume of 245,995 shares trading hands. The stock had previously closed at $11.67.

A number of analysts have recently issued reports on BAK shares. Bank of America Corp. raised shares of Braskem SA from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 24th. Zacks Investment Research downgraded Braskem SA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 29th.

The stock has a market capitalization of $4.53 billion and a PE ratio of 4.02. The firm’s 50 day moving average is $11.53 and its 200-day moving average is $12.49.

An institutional investor recently raised its position in Braskem SA stock. Morgan Stanley boosted its stake in shares of Braskem SA (NYSE:BAK) by 83.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,344,284 shares of the company’s stock after buying an additional 611,328 shares during the period. Morgan Stanley owned approximately 0.34% of Braskem SA worth $18,201,000 as of its most recent filing with the SEC.

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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