Braskem SA (NYSE:BAK) shares traded down 3% during mid-day trading on Thursday . The stock traded as low as $13.09 and last traded at $13.10, with a volume of 196,178 shares traded. The stock had previously closed at $13.50.

Several research analysts recently issued reports 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 target 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 has a market cap of $5.30 billion and a P/E ratio of 5.57. The stock’s 50-day moving average price is $11.98 and its 200-day moving average price is $12.48.

A hedge fund recently raised its stake 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 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 reporting period.

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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