Braskem S.A. (NYSE:BAK) Short Interest Down 15.0% in January

Braskem S.A. (NYSE:BAK) was the recipient of a large decline in short interest in January. As of January 15th, there was short interest totaling 2,821,234 shares, a decline of 15.0% from the December 31st total of 3,320,975 shares. Based on an average trading volume of 1,241,564 shares, the short-interest ratio is presently 2.3 days. Based on an average trading volume of 1,241,564 shares, the short-interest ratio is presently 2.3 days.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BAK shares. Citigroup lowered Braskem from a “buy” rating to a “hold” rating in a report on Friday, October 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Braskem in a research note on Wednesday, January 21st. Santander cut Braskem from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 16th. Finally, Zacks Research downgraded Braskem from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Braskem has an average rating of “Reduce” and a consensus price target of $4.40.

Hedge Funds Weigh In On Braskem

Large investors have recently modified their holdings of the business. Jump Financial LLC lifted its holdings in shares of Braskem by 607.1% during the second quarter. Jump Financial LLC now owns 263,771 shares of the company’s stock worth $865,000 after purchasing an additional 226,467 shares during the period. Van ECK Associates Corp bought a new position in Braskem during the 3rd quarter worth $117,000. Centric Wealth Management bought a new position in Braskem during the 2nd quarter worth $128,000. Creative Planning lifted its holdings in Braskem by 145.0% during the 3rd quarter. Creative Planning now owns 56,790 shares of the company’s stock worth $137,000 after buying an additional 33,614 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Braskem by 130.3% in the 2nd quarter. Jane Street Group LLC now owns 49,301 shares of the company’s stock valued at $162,000 after buying an additional 27,891 shares during the last quarter.

Braskem Trading Up 3.9%

BAK stock traded up $0.14 during midday trading on Tuesday, reaching $3.61. 1,656,463 shares of the stock were exchanged, compared to its average volume of 1,481,408. Braskem has a 52 week low of $2.32 and a 52 week high of $4.82. The company has a fifty day moving average price of $3.09 and a 200 day moving average price of $2.99.

Braskem (NYSE:BAK) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.46. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.23 billion. As a group, sell-side analysts predict that Braskem will post -0.77 EPS for the current fiscal year.

Braskem Company Profile

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.