Braskem S.A. (NYSE:BAK) Given Average Recommendation of “Reduce” by Brokerages

Shares of Braskem S.A. (NYSE:BAK) have earned an average recommendation of “Reduce” from the six brokerages that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $4.40.

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Braskem in a research report on Wednesday, January 21st. Citigroup downgraded Braskem from a “hold” rating to a “sell” rating in a research report on Monday, February 16th. Finally, Zacks Research lowered Braskem from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Signaturefd LLC raised its stake in Braskem by 50.1% in the fourth quarter. Signaturefd LLC now owns 13,524 shares of the company’s stock valued at $40,000 after purchasing an additional 4,513 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Braskem by 444.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock worth $25,000 after buying an additional 7,003 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Braskem by 222.1% in the 4th quarter. Quadrant Capital Group LLC now owns 12,809 shares of the company’s stock valued at $38,000 after buying an additional 8,832 shares during the period. Virtu Financial LLC increased its holdings in Braskem by 28.7% in the 3rd quarter. Virtu Financial LLC now owns 44,587 shares of the company’s stock valued at $108,000 after buying an additional 9,938 shares during the period. Finally, Ballentine Partners LLC acquired a new position in shares of Braskem in the 3rd quarter valued at approximately $34,000.

Braskem Price Performance

NYSE BAK opened at $4.91 on Monday. Braskem has a 12-month low of $2.32 and a 12-month high of $5.30. The firm has a 50-day moving average price of $3.54 and a two-hundred day moving average price of $3.12.

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.