Braskem SA (BAK) Sees Unusually-High Trading Volume
Braskem SA (NYSE:BAK) shares saw unusually-strong trading volume on Tuesday . Approximately 495,748 shares changed hands during trading, an increase of 5% from the previous session’s volume of 472,861 shares.The stock last traded at $11.28 and had previously closed at $11.18.
Several analysts have recently weighed in on BAK shares. Zacks Investment Research lowered Braskem SA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 29th. 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 $4.48 billion and a price-to-earnings ratio of 4.12. The company has a 50-day moving average of $11.57 and a 200-day moving average of $12.59.
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 Form 13F 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 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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