Braskem SA (BAK) Trading Down 2.4%
Braskem SA (NYSE:BAK)’s share price was down 2.4% on Thursday . The company traded as low as $11.33 and last traded at $11.39, with a volume of 245,995 shares traded. The stock had previously closed at $11.67.
A number of equities analysts have weighed in on BAK shares. 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 lowered Braskem SA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 29th.
The firm has a 50-day moving average price of $11.51 and a 200 day moving average price of $12.47. The firm has a market capitalization 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 boosted its stake in shares of Braskem SA (NYSE:BAK) by 83.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 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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