Braskem SA (BAK) Stock Price Up 7.5%
Braskem SA (NYSE:BAK) shares rose 7.5% during mid-day trading on Monday . The stock traded as high as $13.92 and last traded at $13.81, with a volume of 262,942 shares. The stock had previously closed at $12.85.
A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Braskem SA from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday, April 27th. Bank of America Corp. upgraded shares of Braskem SA from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 24th.
The firm’s 50-day moving average price is $11.79 and its 200 day moving average price is $12.43. The company has a market cap of $5.50 billion and a P/E ratio of 5.85.
A hedge fund recently raised its stake in Braskem SA stock. Morgan Stanley increased its position 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 (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 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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