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

Braskem S.A. (NYSE:BAK) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,990,000 shares, an increase of 25.2% from the November 30th total of 1,590,000 shares. Based on an average trading volume of 814,800 shares, the short-interest ratio is currently 2.4 days.

Braskem Trading Up 1.6 %

NYSE BAK opened at $3.86 on Tuesday. Braskem has a one year low of $3.70 and a one year high of $10.98. The company has a debt-to-equity ratio of 23.25, a current ratio of 1.28 and a quick ratio of 0.76. The firm has a market cap of $1.54 billion, a P/E ratio of -1.09 and a beta of 1.98. The stock’s 50-day moving average is $5.16 and its 200-day moving average is $6.11.

Wall Street Analysts Forecast Growth

BAK has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Braskem from $10.00 to $9.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 10th. UBS Group raised shares of Braskem from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $7.70 to $10.00 in a research report on Wednesday, September 18th.

Institutional Investors Weigh In On Braskem

Several large investors have recently made changes to their positions in the stock. MBB Public Markets I LLC increased its holdings in Braskem by 69.5% during the 2nd quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company’s stock worth $10,303,000 after purchasing an additional 654,806 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Braskem in the third quarter worth $2,341,000. Marshall Wace LLP boosted its holdings in Braskem by 872.0% during the second quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock worth $1,731,000 after purchasing an additional 240,744 shares during the last quarter. State Street Corp grew its position in Braskem by 2.3% in the third quarter. State Street Corp now owns 228,110 shares of the company’s stock valued at $1,674,000 after purchasing an additional 5,124 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Braskem by 329.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock valued at $1,298,000 after buying an additional 135,600 shares during the last quarter.

Braskem Company Profile

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.