Braskem SA (BAK) Stock Price Down 4.7%
Shares of Braskem SA (NYSE:BAK) fell 4.7% during trading on Tuesday . The company traded as low as $11.11 and last traded at $11.14, with a volume of 267,868 shares. The stock had previously closed at $11.69.
A number of research firms have commented on BAK. Bank of America Corp. upgraded Braskem SA from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 24th. Zacks Investment Research upgraded Braskem SA from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research report on Wednesday, April 27th.
The stock has a market cap of $4.50 billion and a P/E ratio of 4.01. The company has a 50 day moving average price of $11.46 and a 200-day moving average price of $12.38.
An institutional investor recently raised its position in Braskem SA stock. Morgan Stanley increased its position in Braskem SA (NYSE:BAK) by 83.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 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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