Squarepoint Ops LLC Buys New Position in Braskem S.A. (NYSE:BAK)

Squarepoint Ops LLC bought a new stake in Braskem S.A. (NYSE:BAK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,590 shares of the company’s stock, valued at approximately $164,000.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Braskem by 2,510.3% during the 4th quarter. Blue Trust Inc. now owns 13,130 shares of the company’s stock worth $51,000 after buying an additional 12,627 shares in the last quarter. Signaturefd LLC bought a new position in shares of Braskem during the 4th quarter worth about $53,000. Dark Forest Capital Management LP bought a new position in shares of Braskem during the 4th quarter worth about $71,000. HighTower Advisors LLC boosted its position in shares of Braskem by 19.4% during the 4th quarter. HighTower Advisors LLC now owns 19,213 shares of the company’s stock worth $74,000 after purchasing an additional 3,126 shares in the last quarter. Finally, Quadrant Capital Group LLC bought a new position in Braskem in the fourth quarter worth approximately $88,000.

Braskem Trading Up 0.4%

Braskem stock opened at $3.70 on Monday. Braskem S.A. has a 1-year low of $2.85 and a 1-year high of $7.71. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -1.04 and a beta of 1.73. The firm’s fifty day moving average price is $3.63 and its two-hundred day moving average price is $4.05.

Braskem (NYSE:BAK) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.27. Braskem had a negative net margin of 9.88% and a negative return on equity of 439.59%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $22.86 billion. On average, research analysts forecast that Braskem S.A. will post -0.77 EPS for the current year.

Analysts Set New Price Targets

Separately, Scotiabank lowered Braskem from a “sector outperform” rating to a “sector perform” rating in a report on Monday, March 3rd.

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.