Braskem SA (BAK) Trading Up 3.1%
Braskem SA (NYSE:BAK) shares were up 3.1% during trading on Friday . The stock traded as high as $11.82 and last traded at $11.73, with a volume of 385,722 shares. The stock had previously closed at $11.38.
Several research analysts have commented on BAK shares. Zacks Investment Research downgraded Braskem SA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 29th. Bank of America Corp. upgraded Braskem SA from a “neutral” rating to a “buy” rating in a report on Tuesday, May 24th.
The stock’s 50-day moving average price is $11.52 and its 200 day moving average price is $12.48. The company has a market cap of $4.72 billion and a price-to-earnings ratio of 4.19.
A hedge fund recently raised its stake in Braskem SA stock. Morgan Stanley increased its stake in Braskem SA (NYSE:BAK) by 83.4% during the fourth quarter, according to its most recent 13F filing with the SEC. 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 about 0.34% of Braskem SA worth $18,201,000 at the end of the most recent quarter.
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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