Braskem SA (BAK) Short Interest Down 58.8% in January

Braskem SA (NYSE:BAK) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 766,591 shares, a decline of 58.8% from the January 12th total of 1,859,153 shares. Based on an average daily trading volume, of 584,186 shares, the days-to-cover ratio is presently 1.3 days.

Shares of Braskem (NYSE BAK) opened at $28.62 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.58 and a debt-to-equity ratio of 2.88. The company has a market capitalization of $11,130.00, a price-to-earnings ratio of 32.25 and a beta of 1.10. Braskem has a 12-month low of $17.44 and a 12-month high of $33.73.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Contrarian Capital Management L.L.C. boosted its position in Braskem by 18.4% during the third quarter. Contrarian Capital Management L.L.C. now owns 2,556,204 shares of the energy company’s stock worth $68,353,000 after purchasing an additional 396,895 shares in the last quarter. Vanguard Group Inc. boosted its position in Braskem by 6.1% during the second quarter. Vanguard Group Inc. now owns 984,260 shares of the energy company’s stock worth $20,394,000 after purchasing an additional 56,342 shares in the last quarter. Rubric Capital Management LP boosted its position in Braskem by 29.9% during the third quarter. Rubric Capital Management LP now owns 384,725 shares of the energy company’s stock worth $10,288,000 after purchasing an additional 88,565 shares in the last quarter. Dorsey Wright & Associates boosted its position in Braskem by 36.3% during the fourth quarter. Dorsey Wright & Associates now owns 281,626 shares of the energy company’s stock worth $7,396,000 after purchasing an additional 75,013 shares in the last quarter. Finally, Caxton Associates LP purchased a new stake in Braskem during the third quarter worth $7,156,000. Institutional investors own 0.64% of the company’s stock.

A number of analysts have commented on BAK shares. Zacks Investment Research downgraded Braskem from a “hold” rating to a “strong sell” rating in a research report on Monday, December 18th. UBS Group upgraded Braskem from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Braskem currently has an average rating of “Buy” and an average target price of $34.00.

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About Braskem

Braskem SA produces thermoplastic resins. The Company’s segments are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, the provision of industrial services, and the production, supply and sale of electric energy.

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