Braskem (NYSE:BAK) Hits New 52-Week Low – What’s Next?

Braskem S.A. (NYSE:BAK) reached a new 52-week low on Tuesday . The stock traded as low as $1.75 and last traded at $1.7350, with a volume of 294698 shares changing hands. The stock had previously closed at $1.84.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of Braskem from an “overweight” rating to a “neutral” rating in a research note on Tuesday, June 30th. Zacks Research downgraded shares of Braskem from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Citigroup lowered shares of Braskem from a “neutral” rating to a “sell” rating in a report on Thursday, June 25th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Braskem in a research note on Friday, July 17th. Three research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Strong Sell” and an average price target of $3.40.

Braskem Stock Performance

The company has a market cap of $679.61 million, a P/E ratio of -0.70, a price-to-earnings-growth ratio of 0.12 and a beta of 1.62. The business’s fifty day moving average is $2.43 and its two-hundred day moving average is $3.45.

Braskem (NYSE:BAK) last issued its earnings results on Friday, June 26th. The company reported $1.61 EPS for the quarter. The business had revenue of $4.20 billion for the quarter. Braskem had a negative net margin of 7.28% and a negative return on equity of 67.75%. Analysts expect that Braskem S.A. will post 1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in Braskem by 444.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock worth $25,000 after purchasing an additional 7,003 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Braskem by 222.1% in the 4th quarter. Quadrant Capital Group LLC now owns 12,809 shares of the company’s stock worth $38,000 after buying an additional 8,832 shares during the period. Evergreen Capital Management LLC bought a new position in shares of Braskem during the 4th quarter worth $44,000. Cetera Investment Advisers bought a new position in shares of Braskem during the 1st quarter worth $51,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Braskem during the third quarter valued at $64,000.

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.