Braskem SA (BAK) Trading Down 3%
Shares of Braskem SA (NYSE:BAK) were down 3% during trading on Thursday . The company 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.
A number of analysts recently commented on BAK shares. Zacks Investment Research upgraded Braskem SA from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research report on Wednesday, April 27th. Bank of America Corp. upgraded Braskem SA from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 24th.
The company has a market capitalization of $5.43 billion and a P/E ratio of 5.71. The stock has a 50-day moving average of $12.07 and a 200-day moving average of $12.50.
An institutional investor recently raised its position in Braskem SA stock. Morgan Stanley increased its stake in Braskem SA (NYSE:BAK) by 83.4% during the fourth quarter, according to its most recent 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 approximately 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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