The number of short positions in Braskem S.A. increased throughout November, as evidenced by the percentage of total short positions (NYSE: BAK). There were 406,000 shares available for a short sale as of November 30. This figure represents an increase of 12.9% compared to the volume of 359,600 shares that were traded the previous day. The current days-to-cover ratio is 1.4 days, calculated based on an average daily volume of 291,800 shares. This number was arrived at after considering the stock’s historical volatility.
On Friday, trading began for BAK shares for $9.07 per share.
It was determined that the debt-to-equity ratio is 5.91, the quick ratio is 0.89, and the current ratio is 1.55. During the previous twelve months, the price of Braskem ranged from a low of $9.04 to a high of $21.23. The company’s share price has a price-to-earnings ratio of 10.55, a beta value of 1.71, and a market value of $4.10 billion. The stock price has been trading at a moving average of $11.57 over the past 50 trading days, while the price has been trading at an average of $12.80 over the last 200 trading days.
Recently, the company has been in communication with a variety of analysts, and they have provided their feedback. A research report published on October 24 by Citigroup indicated that the “buy” recommendation the company had previously given for Braskem had been changed to a “neutral” rating. The “buy” recommendation for Braskem stock that was included in a research report distributed on Thursday by the UBS Group was changed to a “neutral” rating for the company. Bradesco Corretora changed their recommendation for Braskem from an “outperform” rating to a “neutral” rating in a research report published on November 9. As a result of a study that was made public on October 24, the recommendation that Bank of America had previously given on Braskem stock had been changed from “buy” to “neutral,” which indicates that they do not have a strong opinion either way. Because Braskem is now performing exceptionally well in its industry, Scotiabank upgraded the company’s rating from “sector perform” to “sector outperform” in a study released to the public on Friday, November 11. This indicates that the company is now outperforming its competitors in its industry. There is one analyst who recommends selling the company’s stock, four analysts who recommend holding the company’s stock, two analysts who recommend holding the company’s stock, and two analysts who recommend buying the company’s stock. The stock of Braskem has been given a recommendation of “Hold” by the investment community, and its price objective has been set at $22.00. This information was obtained from Bloomberg.
Recent months have seen several institutional investors, including hedge funds and other types of investment funds, adjust the overall number of shares held in their portfolios. During the first three months of 2018, Cetera Advisors LLC incurred an additional expense of approximately 195,000 dollars to open a new investment in Braskem. Acadian Asset Management LLC increased its ownership of Braskem by 10.8 percentage points during the first three months of the year through the purchase of additional stock. After purchasing an additional 54,015 shares during the most recent quarter, Acadian Asset Management LLC now has 554,666 shares in the company. Based on the current share price, this gives the company a market value of $10,336,000. The Bank of America Corp.’s DE investment portfolio saw a 55.0% increase in its holdings of Braskem during the first three months of 2018. Bank of America Corp. (DE) now has 3,087 additional shares of the company’s stock, which are worth a total of $162,000; these shares were acquired following the purchase of 8,700 additional shares of the company’s stock during the most recent quarter. UBS Group AG added 1,640.2% more shares of Braskem to its holdings over the third quarter. UBS Group AG now has a total of 9,693 shares of the company, which have a value of $94,000, after purchasing an additional 9,136 shares during the most recent quarter. The company purchased these shares. And finally, over the first three months of this year, Advisor Group Holdings Inc. increased the amount of Braskem stock owned by 156.6%, bringing the total to 1. Advisor Group Holdings Inc. now has 1,740 shares, valued at $33,000, after purchasing an additional 1,062 shares during the most recent quarter. These shares were acquired through the purchase of additional common stock. Institutional investors own the company, and each owns 0.12% of the company’s shares.
Braskem SA and the other affiliated companies made the thermoplastic resins available. Mexico, the United States of America, and Europe, in addition to Brazil, are the three components that, when combined, form the entirety of the company. The Brazil business unit is responsible for producing and distributing a diverse selection of chemicals, including ethylene, polymer- and chemical-grade propylene, butadiene, butene-1, benzene, toluene, and xylenes, among others. In addition, the Brazil business unit is responsible for producing and distributing various fuels, including automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl.
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