Walleye Capital LLC Acquires 193,120 Shares of Braskem S.A. (NYSE:BAK)

Walleye Capital LLC boosted its holdings in shares of Braskem S.A. (NYSE:BAK) by 60.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 512,076 shares of the company’s stock after buying an additional 193,120 shares during the quarter. Walleye Capital LLC owned approximately 0.13% of Braskem worth $1,977,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Braskem by 876.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company’s stock valued at $40,000 after acquiring an additional 4,871 shares during the period. R Squared Ltd purchased a new position in Braskem in the fourth quarter valued at about $44,000. Blue Trust Inc. raised its holdings in Braskem by 2,510.3% in the fourth quarter. Blue Trust Inc. now owns 13,130 shares of the company’s stock worth $51,000 after purchasing an additional 12,627 shares in the last quarter. Signaturefd LLC purchased a new stake in shares of Braskem during the fourth quarter valued at about $53,000. Finally, HighTower Advisors LLC boosted its holdings in shares of Braskem by 19.4% in the 4th quarter. HighTower Advisors LLC now owns 19,213 shares of the company’s stock valued at $74,000 after buying an additional 3,126 shares in the last quarter.

Wall Street Analyst Weigh In

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

Braskem Price Performance

Shares of BAK stock opened at $3.46 on Friday. The stock’s fifty day moving average price is $3.78 and its 200 day moving average price is $4.65. Braskem S.A. has a 1-year low of $2.85 and a 1-year high of $9.21. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -0.97 and a beta of 1.80.

Braskem (NYSE:BAK) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.01). The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.52 billion. Braskem had a negative net margin of 9.88% and a negative return on equity of 439.59%. As a group, equities research analysts anticipate that Braskem S.A. will post -0.77 earnings per share for the current year.

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.