Braskem (OTCMKTS:BRKMY) Shares Pass Above 200-Day Moving Average – Here’s Why

Braskem SA ADR (OTCMKTS:BRKMY)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.24 and traded as high as $3.59. Braskem shares last traded at $3.54, with a volume of 6,761,160 shares trading hands.

Braskem Stock Up 6.9%

The stock has a 50 day simple moving average of $3.97 and a 200-day simple moving average of $3.24. The firm has a market cap of $1.41 billion, a PE ratio of 2.88 and a beta of 1.10. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.79 and a quick ratio of 0.46.

About Braskem

Braskem SA is a Brazil-based petrochemical company and the largest producer of thermoplastic resins in Latin America. Formed in 2002 through the consolidation of regional chemical operations, Braskem specializes in the production of polyethylene, polypropylene and polyvinyl chloride, as well as a range of basic petrochemical inputs. The company’s product portfolio serves diverse end markets, including packaging, automotive, agriculture and construction, with an emphasis on innovation and performance-grade materials.

In addition to traditional resins, Braskem has developed bio-based polymers, most notably green polyethylene produced from sugarcane ethanol feedstock at its Triunfo plant in southern Brazil.