Braskem SA (BAK) Sees Large Decrease in Short Interest

Braskem SA (NYSE:BAK) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 1,099,679 shares, a decrease of 32.0% from the February 15th total of 1,616,156 shares. Based on an average daily volume of 495,070 shares, the short-interest ratio is presently 2.2 days.

Shares of Braskem SA (NYSE:BAK) traded up 2.12% on Thursday, hitting $20.26. The stock had a trading volume of 137,398 shares. The company has a 50 day moving average of $20.34 and a 200-day moving average of $19.47. The firm’s market capitalization is $8.06 billion. Braskem SA has a 12-month low of $10.82 and a 12-month high of $23.15.

Separately, Zacks Investment Research lowered Braskem SA from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 6th.

Several institutional investors have recently modified their holdings of BAK. Crow Point Partners LLC acquired a new position in Braskem SA during the third quarter valued at approximately $126,000. Comerica Bank acquired a new position in Braskem SA during the fourth quarter valued at approximately $215,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Braskem SA during the fourth quarter valued at approximately $295,000. Airain ltd acquired a new position in Braskem SA during the third quarter valued at approximately $232,000. Finally, Eqis Capital Management Inc. acquired a new position in Braskem SA during the third quarter valued at approximately $236,000. 1.20% of the stock is currently owned by hedge funds and other institutional investors.

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Braskem SA Company Profile

Braskem SA produces thermoplastic resins. The Company’s segments are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, the provision of industrial services, and the production, supply and sale of electric energy.

5 Day Chart for NYSE:BAK

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