318,956 Shares in Braskem S.A. (NYSE:BAK) Purchased by Walleye Capital LLC

Walleye Capital LLC bought a new position in shares of Braskem S.A. (NYSE:BAK) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 318,956 shares of the company’s stock, valued at approximately $2,341,000. Walleye Capital LLC owned 0.07% of Braskem at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of BAK. Quantbot Technologies LP grew its holdings in shares of Braskem by 174.9% during the 3rd quarter. Quantbot Technologies LP now owns 71,952 shares of the company’s stock worth $528,000 after purchasing an additional 45,782 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Braskem in the third quarter valued at about $197,000. MQS Management LLC purchased a new position in Braskem during the third quarter worth about $77,000. Point72 Asset Management L.P. increased its position in shares of Braskem by 60.9% during the second quarter. Point72 Asset Management L.P. now owns 41,200 shares of the company’s stock valued at $266,000 after acquiring an additional 15,600 shares during the last quarter. Finally, MBB Public Markets I LLC raised its stake in shares of Braskem by 69.5% in the 2nd quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company’s stock valued at $10,303,000 after acquiring an additional 654,806 shares during the period.

Analyst Ratings Changes

Several analysts recently weighed in on BAK shares. UBS Group upgraded shares of Braskem from a “neutral” rating to a “buy” rating and lifted their target price for the company from $7.70 to $10.00 in a report on Wednesday, September 18th. Citigroup raised Braskem from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. dropped their target price on Braskem from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th.

Braskem Stock Performance

Shares of BAK stock opened at $5.11 on Wednesday. The firm has a 50 day moving average of $6.11 and a two-hundred day moving average of $6.46. The company has a debt-to-equity ratio of 23.25, a current ratio of 1.28 and a quick ratio of 0.76. Braskem S.A. has a 52 week low of $4.68 and a 52 week high of $10.98.

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.