Braskem (NYSE:BAK) Shares Down 6.8% – What’s Next?

Braskem S.A. (NYSE:BAK)’s share price traded down 6.8% during trading on Wednesday . The company traded as low as $4.20 and last traded at $4.20. 356,035 shares traded hands during trading, a decline of 61% from the average session volume of 914,149 shares. The stock had previously closed at $4.51.

Braskem Stock Performance

The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -1.19, a P/E/G ratio of 2.24 and a beta of 2.03. The firm has a 50-day simple moving average of $4.34 and a two-hundred day simple moving average of $5.57.

Institutional Investors Weigh In On Braskem

Several large investors have recently added to or reduced their stakes in BAK. JPMorgan Chase & Co. boosted its position in Braskem by 876.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company’s stock valued at $40,000 after buying an additional 4,871 shares during the period. MQS Management LLC purchased a new position in Braskem in the third quarter valued at $77,000. R Squared Ltd acquired a new position in Braskem during the 4th quarter worth $44,000. Virtu Financial LLC purchased a new stake in Braskem during the 3rd quarter worth about $88,000. Finally, Blue Trust Inc. raised its position in Braskem by 2,510.3% in the 4th quarter. Blue Trust Inc. now owns 13,130 shares of the company’s stock valued at $51,000 after purchasing an additional 12,627 shares in the last quarter.

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.