Braskem S.A. (NYSE:BAK) Short Interest Update

Braskem S.A. (NYSE:BAK) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 3,745,521 shares, a growth of 32.8% from the January 15th total of 2,821,234 shares. Based on an average daily volume of 1,804,574 shares, the days-to-cover ratio is presently 2.1 days. Based on an average daily volume of 1,804,574 shares, the days-to-cover ratio is presently 2.1 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BAK shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Braskem in a report on Wednesday, January 21st. Zacks Research lowered shares of Braskem from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $4.40.

Braskem Stock Up 2.5%

Shares of Braskem stock traded up $0.10 during trading hours on Friday, reaching $3.83. 2,549,442 shares of the company’s stock were exchanged, compared to its average volume of 1,895,491. The business has a fifty day moving average of $3.23 and a two-hundred day moving average of $3.02. The company has a market capitalization of $1.52 billion, a P/E ratio of -1.68 and a beta of 1.89. Braskem has a 1 year low of $2.32 and a 1 year high of $4.74.

Hedge Funds Weigh In On Braskem

A number of institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its position in shares of Braskem by 444.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock worth $25,000 after purchasing an additional 7,003 shares during the period. Ballentine Partners LLC purchased a new stake in Braskem during the 3rd quarter worth approximately $34,000. Quadrant Capital Group LLC raised its stake in shares of Braskem by 222.1% in the fourth quarter. Quadrant Capital Group LLC now owns 12,809 shares of the company’s stock valued at $38,000 after acquiring an additional 8,832 shares in the last quarter. Signaturefd LLC raised its position in Braskem by 50.1% in the 4th quarter. Signaturefd LLC now owns 13,524 shares of the company’s stock valued at $40,000 after purchasing an additional 4,513 shares in the last quarter. Finally, Evergreen Capital Management LLC acquired a new position in shares of Braskem during the fourth quarter worth about $44,000.

About Braskem

Braskem (NYSE:BAK) is a leading integrated petrochemical company based in São Paulo, Brazil, and holds the distinction of being the largest thermoplastic resins producer in Latin America. The company operates across the entire value chain, from feedstock sourcing and polymer production to distribution and recycling. Braskem’s comprehensive approach to petrochemical manufacturing enables it to serve a diverse set of end markets with a broad portfolio of products.

Braskem’s core product lines include polypropylene, polyethylene and polyvinyl chloride (PVC), which are used in industries such as packaging, automotive, construction and electrical & electronics.