Braskem SA (NYSE:BAK) dropped 1.7% during mid-day trading on Thursday . The company traded as low as $13.51 and last traded at $13.56, with a volume of 149,492 shares changing hands. The stock had previously closed at $13.80.

BAK has been the subject of a number of research reports. 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. Zacks Investment Research downgraded shares of Braskem SA from a “buy” rating to a “strong sell” rating in a research report on Monday, July 25th.

The company has a market capitalization of $5.25 billion and a P/E ratio of 5.71. The stock’s 50 day moving average price is $12.35 and its 200-day moving average price is $12.55.

An institutional investor recently raised its position in Braskem SA stock. Morgan Stanley raised 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 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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