Analysts Set Braskem S.A. (NYSE:BAK) Target Price at $4.40

Shares of Braskem S.A. (NYSE:BAK) have received a consensus rating of “Reduce” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $4.40.

Several research firms recently issued reports on BAK. Zacks Research lowered shares of Braskem from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Braskem in a research note on Wednesday, January 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BAK. Renaissance Technologies LLC grew its position in shares of Braskem by 619.5% during the 4th quarter. Renaissance Technologies LLC now owns 265,488 shares of the company’s stock valued at $783,000 after purchasing an additional 228,588 shares in the last quarter. Jump Financial LLC boosted its position in Braskem by 607.1% during the 2nd quarter. Jump Financial LLC now owns 263,771 shares of the company’s stock valued at $865,000 after buying an additional 226,467 shares during the period. Marshall Wace LLP purchased a new position in Braskem during the 4th quarter valued at about $477,000. Jane Street Group LLC boosted its holdings in Braskem by 193.6% in the fourth quarter. Jane Street Group LLC now owns 220,898 shares of the company’s stock valued at $652,000 after acquiring an additional 145,655 shares in the last quarter. Finally, X Square Capital LLC boosted its position in Braskem by 117.6% during the 4th quarter. X Square Capital LLC now owns 185,000 shares of the company’s stock valued at $546,000 after acquiring an additional 100,000 shares in the last quarter.

Braskem Stock Performance

Braskem stock opened at $3.83 on Thursday. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -1.68 and a beta of 1.89. The company has a 50 day moving average price of $3.23 and a 200 day moving average price of $3.02. Braskem has a 52 week low of $2.32 and a 52 week high of $4.74.

About Braskem

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.