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

Braskem S.A. (NYSE:BAK) was the recipient of a significant growth in short interest during 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 trading volume of 1,804,574 shares, the days-to-cover ratio is presently 2.1 days. Based on an average trading volume of 1,804,574 shares, the days-to-cover ratio is presently 2.1 days.

Braskem Stock Up 2.5%

NYSE BAK traded up $0.10 on Monday, reaching $3.83. The company had a trading volume of 2,549,442 shares, compared to its average volume of 1,936,154. Braskem has a 1 year low of $2.32 and a 1 year high of $4.74. The firm has a 50-day moving average of $3.24 and a 200-day moving average of $3.03.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BAK shares. Zacks Research lowered Braskem from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Citigroup cut shares of Braskem from a “neutral” rating to a “sell” rating in a research report on Monday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Braskem in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $4.40.

Hedge Funds Weigh In On Braskem

A number of institutional investors have recently added to or reduced their stakes in BAK. Squarepoint Ops LLC acquired a new stake in shares of Braskem during the fourth quarter valued at about $79,000. Marshall Wace LLP acquired a new position in shares of Braskem in the fourth quarter worth about $477,000. State Street Corp boosted its holdings in Braskem by 7.2% in the fourth quarter. State Street Corp now owns 311,507 shares of the company’s stock valued at $919,000 after purchasing an additional 20,805 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in 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 purchasing an additional 8,832 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in Braskem by 193.6% during the 4th quarter. Jane Street Group LLC now owns 220,898 shares of the company’s stock valued at $652,000 after purchasing an additional 145,655 shares in the last quarter.

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.