Braskem S.A. (NYSE:BAK) Shares Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. boosted its position in Braskem S.A. (NYSE:BAK) by 55.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,445 shares of the company’s stock after buying an additional 16,545 shares during the period. Balyasny Asset Management L.P.’s holdings in Braskem were worth $179,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Covalis Capital LLP lifted its stake in shares of Braskem by 27.1% in the 4th quarter. Covalis Capital LLP now owns 1,173,852 shares of the company’s stock worth $4,531,000 after acquiring an additional 250,215 shares during the period. Walleye Capital LLC raised its holdings in Braskem by 60.5% during the fourth quarter. Walleye Capital LLC now owns 512,076 shares of the company’s stock worth $1,977,000 after purchasing an additional 193,120 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Braskem by 876.1% during the third quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company’s stock worth $40,000 after purchasing an additional 4,871 shares in the last quarter. Renaissance Technologies LLC lifted its position in Braskem by 126.1% in the fourth quarter. Renaissance Technologies LLC now owns 329,910 shares of the company’s stock valued at $1,273,000 after purchasing an additional 184,010 shares during the period. Finally, R Squared Ltd purchased a new stake in Braskem in the 4th quarter valued at approximately $44,000.

Braskem Stock Performance

NYSE:BAK opened at $3.61 on Monday. Braskem S.A. has a 1 year low of $2.85 and a 1 year high of $7.96. The stock has a fifty day moving average price of $3.65 and a two-hundred day moving average price of $4.22. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -1.02 and a beta of 1.83.

Braskem (NYSE:BAK) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $22.86 billion. On average, analysts predict that Braskem S.A. will post -0.77 EPS for the current year.

Analyst Ratings Changes

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

Braskem 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.