Braskem S.A. (NYSE:BAK)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $26.16 and last traded at $26.20, with a volume of 277,631 shares trading hands. The stock had previously closed at $24.84.

BAK has been the subject of several research analyst reports. Morgan Stanley raised shares of Braskem from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 17th. Zacks Investment Research raised shares of Braskem from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a research note on Friday, June 30th. BidaskClub raised shares of Braskem from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, ValuEngine raised shares of Braskem from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $21.33.

The company has a 50-day moving average price of $24.32 and a 200 day moving average price of $21.59. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 26.28 and a beta of 1.14.

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Group AG grew its holdings in shares of Braskem by 5.2% in the first quarter. UBS Group AG now owns 6,010 shares of the energy company’s stock valued at $122,000 after purchasing an additional 297 shares during the period. Citigroup Inc. grew its holdings in shares of Braskem by 168.5% in the second quarter. Citigroup Inc. now owns 8,217 shares of the energy company’s stock valued at $170,000 after purchasing an additional 5,157 shares during the period. Comerica Bank grew its holdings in shares of Braskem by 1.5% in the first quarter. Comerica Bank now owns 9,889 shares of the energy company’s stock valued at $211,000 after purchasing an additional 147 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Braskem by 10,474.0% in the second quarter. Tower Research Capital LLC TRC now owns 10,574 shares of the energy company’s stock valued at $219,000 after purchasing an additional 10,474 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Braskem in the second quarter valued at about $246,000. 0.66% of the stock is owned by hedge funds and other institutional investors.

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About Braskem

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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