Short Interest Worth Watching: Does Braskem S A (NYSE:BAK) Have Gas After Even More Sellers Involved?

November 25, 2016 - By kentuckypostne   ·   0 Comments

Short Interest Worth Watching: Does Braskem S A (NYSE:BAK) Have Gas After Even More Sellers Involved?

The stock of Braskem S A (NYSE:BAK) registered an increase of 10.17% in short interest. BAK’s total short interest was 2.28 million shares in November as published by FINRA. Its up 10.17% from 2.07 million shares, reported previously. With 524,100 shares average volume, it will take short sellers 4 days to cover their BAK’s short positions. The short interest to Braskem S A’s float is 2.26%. The stock closed at $15.91 during the last session. It is down 12.68% since April 22, 2016 and is uptrending. It has outperformed by 7.27% the S&P500.

Braskem S.A. produces thermoplastic resins. The company has a market cap of $5.71 billion. The Company’s divisions are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It has a 9.4 P/E ratio. 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.

Braskem SA (ADR) (NYSE:BAK) Ratings Coverage

Out of 3 analysts covering Braskem SA (NYSE:BAK), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Braskem SA has been the topic of 4 analyst reports since September 21, 2015 according to StockzIntelligence Inc. On Tuesday, October 11 the stock rating was initiated by HSBC with “Buy”. The stock has “Buy” rating given by Bank of America on Tuesday, May 24.

BAK Company Profile

Braskem S.A. (Braskem), incorporated on January 12, 1972, produces thermoplastic resins. The Company’s divisions are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. Braskem 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, as well as the provision of industrial services and the production, supply and sale of electric energy for its own use and use by other companies. Braskem also invests in other companies, either as a partner or as shareholder. It operates over 40 industrial units, over 30 of which are located in the Brazilian states of Alagoas (AL), Bahia (BA), Rio de Janeiro (RJ), Rio Grande do Sul (RS) and Sao Paulo (SP); over five are located in the United States, in the states of Pennsylvania, Texas and West Virginia, and over two are located in Germany, in the cities of Wesseling and Schkopau. These units produce thermoplastic resins-polyethylene (PE), polypropylene (PP) and polyvinyl chloride (PVC), as well as basic petrochemicals.

More notable recent Braskem SA (ADR) (NYSE:BAK) news were published by: Quotes.Wsj.com which released: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011, also Marketwatch.com with their article: “/quotes/zigman/3870025/realtime” published on December 22, 2009, Bidnessetc.com published: “Braskem SA (ADR) Of Brazil Sued In New York Court Over Petrobras Scandal” on July 02, 2015. More interesting news about Braskem SA (ADR) (NYSE:BAK) were released by: Bidnessetc.com and their article: “How Braskem SA (ADR) Got Tied Up In Petroleo Brasileiro Petrobras SA (ADR …” published on March 16, 2015 as well as Bidnessetc.com‘s news article titled: “Petrobras: CNOOC Ltd Shows Interest to Purchase Braskem Stake” with publication date: March 14, 2016.

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