Braskem S.A. (NYSE:BAK) Sees Large Increase in Short Interest

Braskem S.A. (NYSE:BAKGet Rating) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 523,400 shares, an increase of 6.3% from the August 15th total of 492,500 shares. Based on an average daily volume of 210,900 shares, the short-interest ratio is presently 2.5 days.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BAK shares. Scotiabank downgraded shares of Braskem from a “sector perform” rating to a “sector underperform” rating in a research report on Monday, August 15th. Howard Weil downgraded shares of Braskem from a “sector perform” rating to a “sector underperform” rating in a research note on Monday, August 15th. Finally, TheStreet cut shares of Braskem from a “b-” rating to a “c” rating in a research report on Friday, August 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Arbor Capital Management Inc. ADV bought a new position in Braskem in the 1st quarter valued at about $212,000. Advisor Group Holdings Inc. raised its holdings in Braskem by 156.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,740 shares of the company’s stock valued at $33,000 after acquiring an additional 1,062 shares during the period. Veriti Management LLC raised its holdings in Braskem by 14.1% in the 1st quarter. Veriti Management LLC now owns 12,527 shares of the company’s stock valued at $234,000 after acquiring an additional 1,549 shares during the period. AQR Capital Management LLC raised its holdings in Braskem by 12.5% in the 2nd quarter. AQR Capital Management LLC now owns 16,796 shares of the company’s stock valued at $240,000 after acquiring an additional 1,871 shares during the period. Finally, Bank of America Corp DE raised its holdings in Braskem by 55.0% in the 1st quarter. Bank of America Corp DE now owns 8,700 shares of the company’s stock valued at $162,000 after acquiring an additional 3,087 shares during the period. 0.12% of the stock is owned by institutional investors.

Braskem Trading Down 1.8 %

Braskem stock opened at $11.24 on Thursday. The company has a debt-to-equity ratio of 5.91, a current ratio of 1.55 and a quick ratio of 0.89. The firm has a 50-day moving average of $12.72 and a 200-day moving average of $15.54. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 3.64, a P/E/G ratio of 0.32 and a beta of 1.68. Braskem has a one year low of $10.66 and a one year high of $24.41.

About Braskem

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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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