Braskem (NYSE:BAK) Shares Gap Up – Time to Buy?

Braskem S.A. (NYSE:BAK)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $4.84, but opened at $4.99. Braskem shares last traded at $5.04, with a volume of 169,077 shares trading hands.

Braskem Stock Performance

The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -1.43, a PEG ratio of 2.32 and a beta of 2.01. The firm’s 50 day moving average is $4.45 and its 200-day moving average is $5.75.

Institutional Trading of Braskem

A number of institutional investors have recently made changes to their positions in BAK. Point72 Asset Management L.P. raised its position in shares of Braskem by 329.1% in the third quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock valued at $1,298,000 after buying an additional 135,600 shares during the last quarter. Jane Street Group LLC lifted its stake in Braskem by 106.8% in the 3rd quarter. Jane Street Group LLC now owns 90,736 shares of the company’s stock worth $666,000 after purchasing an additional 46,858 shares in the last quarter. State Street Corp boosted its holdings in shares of Braskem by 2.3% during the 3rd quarter. State Street Corp now owns 228,110 shares of the company’s stock worth $1,674,000 after purchasing an additional 5,124 shares during the last quarter. Marshall Wace LLP grew its position in shares of Braskem by 872.0% in the second quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock valued at $1,731,000 after purchasing an additional 240,744 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Braskem in the third quarter valued at approximately $197,000.

About Braskem

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.