Braskem SA (BAK) Trading Down 4.6%
Braskem SA (NYSE:BAK) fell 4.6% during trading on Friday . The stock traded as low as $12.80 and last traded at $12.81, with a volume of 253,342 shares changing hands. The stock had previously closed at $13.43.
Several research firms have recently commented on BAK. Bank of America Corp. upgraded Braskem SA from a “neutral” rating to a “buy” rating in a report on Tuesday, May 24th. Zacks Investment Research downgraded Braskem SA from a “buy” rating to a “strong sell” rating in a report on Monday, July 25th.
The stock’s 50-day moving average is $11.77 and its 200 day moving average is $12.42. The company has a market cap of $5.11 billion and a P/E ratio of 5.48.
An institutional investor recently raised its position in Braskem SA stock. Morgan Stanley raised its stake in Braskem SA (NYSE:BAK) by 83.4% during the fourth quarter, according to its most recent Form 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 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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