Braskem S.A. (NYSE:BAK) Short Interest Down 15.0% in January

Braskem S.A. (NYSE:BAK) was the recipient of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 2,821,234 shares, a decrease of 15.0% from the December 31st total of 3,320,975 shares. Based on an average daily volume of 1,241,564 shares, the short-interest ratio is currently 2.3 days. Based on an average daily volume of 1,241,564 shares, the short-interest ratio is currently 2.3 days.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Santander cut Braskem from a “neutral” rating to an “underperform” rating in a research report on Thursday, October 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Braskem in a research note on Wednesday, January 21st. Citigroup cut Braskem from a “buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Zacks Research lowered shares of Braskem from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $4.40.

Braskem Stock Down 3.5%

Shares of BAK stock opened at $3.57 on Monday. Braskem has a 12 month low of $2.32 and a 12 month high of $4.87. The firm has a market cap of $1.42 billion, a PE ratio of -1.57 and a beta of 1.89. The stock has a 50 day moving average of $3.06 and a 200-day moving average of $2.98.

Braskem (NYSE:BAK) last announced its earnings results on Wednesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.46. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.23 billion. As a group, equities analysts predict that Braskem will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Braskem

A number of institutional investors have recently added to or reduced their stakes in the company. Centric Wealth Management bought a new position in Braskem during the second quarter valued at about $128,000. Jump Financial LLC grew its holdings in shares of Braskem by 607.1% during the 2nd quarter. Jump Financial LLC now owns 263,771 shares of the company’s stock worth $865,000 after purchasing an additional 226,467 shares in the last quarter. Jane Street Group LLC increased its position in shares of Braskem by 130.3% during the second quarter. Jane Street Group LLC now owns 49,301 shares of the company’s stock valued at $162,000 after purchasing an additional 27,891 shares during the period. Ballentine Partners LLC acquired a new position in shares of Braskem in the third quarter valued at $34,000. Finally, Van ECK Associates Corp bought a new position in Braskem in the third quarter worth $117,000.

Braskem Company Profile

Braskem (NYSE:BAK) is a leading integrated petrochemical company based in São Paulo, Brazil, and holds the distinction of being the largest thermoplastic resins producer in Latin America. The company operates across the entire value chain, from feedstock sourcing and polymer production to distribution and recycling. Braskem’s comprehensive approach to petrochemical manufacturing enables it to serve a diverse set of end markets with a broad portfolio of products.

Braskem’s core product lines include polypropylene, polyethylene and polyvinyl chloride (PVC), which are used in industries such as packaging, automotive, construction and electrical & electronics.