Braskem S.A. (NYSE:BAK – Get Free Report) saw a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 1,770,000 shares, a decrease of 5.3% from the July 31st total of 1,870,000 shares. Based on an average daily trading volume, of 669,700 shares, the days-to-cover ratio is currently 2.6 days.
Institutional Trading of Braskem
Hedge funds and other institutional investors have recently modified their holdings of the business. MBB Public Markets I LLC boosted its holdings in Braskem by 69.5% in the 2nd quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company’s stock worth $10,303,000 after buying an additional 654,806 shares during the period. Marshall Wace LLP boosted its holdings in shares of Braskem by 872.0% in the second quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock worth $1,731,000 after acquiring an additional 240,744 shares during the period. SPX Gestao de Recursos Ltda grew its position in shares of Braskem by 266.9% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 239,536 shares of the company’s stock valued at $2,113,000 after purchasing an additional 174,250 shares in the last quarter. Trexquant Investment LP raised its stake in shares of Braskem by 197.1% during the 4th quarter. Trexquant Investment LP now owns 141,852 shares of the company’s stock valued at $1,251,000 after purchasing an additional 94,099 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Braskem by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock valued at $722,000 after purchasing an additional 1,807 shares during the period.
Braskem Stock Up 3.0 %
Shares of BAK opened at $6.51 on Wednesday. Braskem has a 1 year low of $5.28 and a 1 year high of $10.98. The company has a debt-to-equity ratio of 23.25, a quick ratio of 0.84 and a current ratio of 1.31. The stock’s fifty day moving average price is $6.42 and its two-hundred day moving average price is $7.64.
Wall Street Analysts Forecast Growth
BAK has been the topic of several research reports. Citigroup raised shares of Braskem from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. decreased their price target on shares of Braskem from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, May 24th.
Read Our Latest Stock Analysis on BAK
About Braskem
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 olefins, including ethylene, polymer and chemical grade propylene, butadiene, and 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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