What’s Ahead for Braskem SA Adr (NYSE:BAK) After More Shorted Shares?

May 17, 2018 - By Michael Collier

Braskem S.A. (NYSE:BAK) Logo

The stock of Braskem SA Adr (NYSE:BAK) registered an increase of 79.05% in short interest. BAK’s total short interest was 244,400 shares in May as published by FINRA. Its up 79.05% from 136,500 shares, reported previously. With 282,600 shares average volume, it will take short sellers 1 days to cover their BAK’s short positions. The short interest to Braskem SA Adr’s float is 0.24%.

The stock decreased 2.54% or $0.69 during the last trading session, reaching $26.43. About 118,360 shares traded. Braskem S.A. (NYSE:BAK) has risen 32.78% since May 17, 2017 and is uptrending. It has outperformed by 21.23% the S&P500.

Braskem S.A., together with its subsidiaries, produces and sells thermoplastic resins. The company has market cap of $10.61 billion. The Company’s Basic Petrochemicals segment offers olefins, such as ethylene, polymer and chemical grade propylene, butadiene, isoprene, and butene-1; BTX products comprising benzene, toluene, ortho-xylene, para-xylene, and mixed xylenes; fuels, including automotive gasoline and liquefied petroleum gas; intermediates, such as cumene; and other basic petrochemicals, which include ethyl tertiary butyl ether, solvent C9, and pyrolysis C9. It has a 8.68 P/E ratio. This segment also supplies electric energy, steam, compressed air, and other products to second-generation producers.

Another recent and important Braskem S.A. (NYSE:BAK) news was published by Nasdaq.com which published an article titled: “Mid-Morning Market Update: Markets Edge Higher; Macy’s Tops Q1 Estimates” on May 16, 2018.

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