Braskem SA (BAK) Short Interest Up 89.4% in November

Braskem SA (NYSE:BAK) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,926,623 shares, a growth of 89.4% from the October 31st total of 1,017,160 shares. Based on an average trading volume of 522,386 shares, the short-interest ratio is currently 3.7 days.

BAK stock opened at $27.25 on Thursday. Braskem has a one year low of $21.32 and a one year high of $32.67. The firm has a market capitalization of $11.23 billion, a PE ratio of 8.52 and a beta of 1.11. The company has a quick ratio of 0.54, a current ratio of 0.90 and a debt-to-equity ratio of 4.13.

Braskem (NYSE:BAK) last released its earnings results on Monday, November 12th. The energy company reported $0.51 EPS for the quarter. The company had revenue of $3.71 billion during the quarter. Braskem had a net margin of 4.89% and a return on equity of 45.12%. As a group, research analysts expect that Braskem will post 2.35 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in BAK. BNP Paribas Arbitrage SA increased its holdings in shares of Braskem by 1,207.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 77,573 shares of the energy company’s stock valued at $2,017,000 after purchasing an additional 71,640 shares in the last quarter. Aperio Group LLC increased its holdings in shares of Braskem by 11.9% in the 2nd quarter. Aperio Group LLC now owns 103,212 shares of the energy company’s stock valued at $2,684,000 after purchasing an additional 10,942 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Braskem in the 2nd quarter valued at about $6,499,000. SG Americas Securities LLC increased its holdings in shares of Braskem by 140.5% in the 2nd quarter. SG Americas Securities LLC now owns 8,511 shares of the energy company’s stock valued at $221,000 after purchasing an additional 4,972 shares in the last quarter. Finally, Pinebridge Investments L.P. increased its holdings in shares of Braskem by 26.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 12,764 shares of the energy company’s stock valued at $332,000 after purchasing an additional 2,644 shares in the last quarter. Institutional investors and hedge funds own 0.51% of the company’s stock.

BAK has been the subject of several recent analyst reports. HSBC cut shares of Braskem from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. ValuEngine upgraded shares of Braskem from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st.

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About Braskem

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. Its Basic Petrochemicals segment offers olefins, such as ethylene, polymer and chemical grade propylene, butadiene, and butene-1; BTX products comprising benzene, para-xylene, and toluene; fuels, including automotive gasoline, liquefied petroleum gas, ethyl tertiary butyl ether, and methyl tertiary butyl ether; intermediates, such as cumene; and aliphatics, aromatics, and hydrogenates solvents, as well as specialties, such as isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.

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