Braskem (NYSE:BAK) Shares Gap Up – Should You Buy?

Shares of Braskem S.A. (NYSE:BAK) gapped up before the market opened on Tuesday . The stock had previously closed at $3.62, but opened at $3.74. Braskem shares last traded at $3.82, with a volume of 99,850 shares traded.

Analyst Ratings Changes

Separately, Scotiabank lowered shares of Braskem from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, March 3rd.

Braskem Price Performance

The stock’s 50 day moving average is $3.64 and its two-hundred day moving average is $4.03. The stock has a market capitalization of $1.50 billion, a PE ratio of -1.06 and a beta of 1.73.

Braskem (NYSE:BAK) last released its earnings results on Monday, May 12th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.27. Braskem had a negative net margin of 9.88% and a negative return on equity of 439.59%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $22.86 billion. On average, equities analysts predict that Braskem S.A. will post -0.77 earnings per share for the current year.

Institutional Trading of Braskem

A number of large investors have recently made changes to their positions in BAK. Blue Trust Inc. boosted its holdings in Braskem by 2,510.3% in the fourth quarter. Blue Trust Inc. now owns 13,130 shares of the company’s stock valued at $51,000 after purchasing an additional 12,627 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Braskem by 19.4% in the fourth quarter. HighTower Advisors LLC now owns 19,213 shares of the company’s stock valued at $74,000 after purchasing an additional 3,126 shares in the last quarter. Signaturefd LLC acquired a new position in Braskem in the fourth quarter valued at approximately $53,000. Fox Run Management L.L.C. boosted its holdings in Braskem by 103.3% in the fourth quarter. Fox Run Management L.L.C. now owns 35,366 shares of the company’s stock valued at $137,000 after purchasing an additional 17,971 shares in the last quarter. Finally, Trexquant Investment LP boosted its holdings in Braskem by 145.8% in the fourth quarter. Trexquant Investment LP now owns 258,638 shares of the company’s stock valued at $998,000 after purchasing an additional 153,401 shares in the last quarter.

Braskem Company Profile

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through three segments: Brazil, United States and Europe, and Mexico. The Brazil segment produces and sells olefins, including ethylene, polymer and chemical grade propylene, butadiene, and butene-1; benzene, toluene, and xylenes products; fuels, such as automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl ether; intermediates, such as cumene; aliphatics, aromatics, and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.