Braskem (NYSE:BAK) Stock Price Down 2.5%

Posted by on Jun 21st, 2022

Braskem S.A. (NYSE:BAK – Get Rating)’s share price dropped 2.5% during mid-day trading on Tuesday . The company traded as low as $14.17 and last traded at $14.25. Approximately 3,821 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 207,260 shares. The stock had previously closed at $14.61.

Separately, TheStreet raised shares of Braskem from a “c” rating to a “b” rating in a research note on Thursday, May 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Braskem presently has an average rating of “Buy” and an average target price of $32.40.

The stock has a market capitalization of $6.55 billion, a PE ratio of 1.99, a price-to-earnings-growth ratio of 0.57 and a beta of 1.68. The firm’s fifty day moving average is $17.28 and its 200-day moving average is $18.56. The company has a current ratio of 1.63, a quick ratio of 0.94 and a debt-to-equity ratio of 4.11.

Braskem (NYSE:BAK – Get Rating) last issued its quarterly earnings data on Thursday, May 12th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.20. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.83 billion. Braskem had a net margin of 14.18% and a return on equity of 156.07%. As a group, equities analysts predict that Braskem S.A. will post 2.64 EPS for the current year.

A number of large investors have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky increased its stake in Braskem by 16.2% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 185,500 shares of the company’s stock worth $3,458,000 after purchasing an additional 25,800 shares during the period. Bank of America Corp DE increased its stake in Braskem by 55.0% during the first quarter. Bank of America Corp DE now owns 8,700 shares of the company’s stock worth $162,000 after purchasing an additional 3,087 shares during the period. Quantbot Technologies LP increased its stake in Braskem by 309.0% during the first quarter. Quantbot Technologies LP now owns 9,854 shares of the company’s stock worth $183,000 after purchasing an additional 7,445 shares during the period. Guggenheim Capital LLC purchased a new stake in Braskem during the first quarter worth about $245,000. Finally, State Street Corp increased its stake in Braskem by 19.8% during the first quarter. State Street Corp now owns 251,227 shares of the company’s stock worth $4,683,000 after purchasing an additional 41,461 shares during the period. Institutional investors own 0.25% of the company’s stock.

Braskem Company Profile (NYSE:BAK)

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 chemicals, including ethylene, polymer and chemical grade propylene, butadiene, 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.

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