Braskem (NYSE:BAK) Stock Price Down 6.8% – Here’s What Happened

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

Braskem Price Performance

The stock’s 50-day moving average is $4.34 and its 200 day moving average is $5.57. The company has a market cap of $1.68 billion, a PE ratio of -1.19, a PEG ratio of 2.24 and a beta of 2.03.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Walleye Capital LLC acquired a new position in shares of Braskem in the 3rd quarter valued at about $2,341,000. State Street Corp increased its stake in shares of Braskem by 2.3% during the third quarter. State Street Corp now owns 228,110 shares of the company’s stock worth $1,674,000 after purchasing an additional 5,124 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Braskem by 329.1% in the third quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock valued at $1,298,000 after acquiring an additional 135,600 shares in the last quarter. Jane Street Group LLC boosted its stake in Braskem by 106.8% during the 3rd quarter. Jane Street Group LLC now owns 90,736 shares of the company’s stock worth $666,000 after purchasing an additional 46,858 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in Braskem by 174.9% during the third quarter. Quantbot Technologies LP now owns 71,952 shares of the company’s stock worth $528,000 after acquiring an additional 45,782 shares during 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.