Braskem SA (BAK) Trading 4.5% Higher
Braskem SA (NYSE:BAK)’s share price was up 4.5% on Tuesday . The stock traded as high as $14.24 and last traded at $14.03, with a volume of 311,405 shares trading hands. The stock had previously closed at $13.42.
A number of equities analysts recently commented on BAK shares. Zacks Investment Research lowered shares of Braskem SA from a “buy” rating to a “strong sell” rating in a research report on Monday, July 25th. Bank of America Corp. raised 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 $5.49 billion and a price-to-earnings ratio of 5.88. The company has a 50-day moving average price of $12.23 and a 200-day moving average price of $12.53.
An institutional investor recently raised its position in Braskem SA stock. Morgan Stanley raised 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 fund owned 1,344,284 shares of the company’s stock after buying an additional 611,328 shares during the period. Morgan Stanley owned about 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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