Cosan (NYSE:CSAN) Sees Strong Trading Volume – Time to Buy?

Cosan S.A. (NYSE:CSAN) saw an uptick in trading volume on Monday . 786,741 shares were traded during mid-day trading, a decline of 15% from the previous session’s volume of 920,875 shares.The stock last traded at $5.67 and had previously closed at $5.80.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Cosan from a “hold” rating to a “sell” rating in a research report on Saturday, May 24th.

Cosan Stock Down 2.3%

The stock’s fifty day moving average is $5.33 and its two-hundred day moving average is $5.47. The company has a current ratio of 1.86, a quick ratio of 1.73 and a debt-to-equity ratio of 1.31. The firm has a market cap of $2.64 billion, a P/E ratio of 4.28, a price-to-earnings-growth ratio of 3.94 and a beta of 1.15.

Cosan (NYSE:CSAN) last posted its earnings results on Thursday, May 15th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.64). The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $7.17 billion. As a group, research analysts anticipate that Cosan S.A. will post 0.2 earnings per share for the current year.

Hedge Funds Weigh In On Cosan

Several institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new position in Cosan during the 4th quarter valued at about $27,000. GAMMA Investing LLC increased its holdings in Cosan by 799.4% during the 1st quarter. GAMMA Investing LLC now owns 5,747 shares of the company’s stock valued at $30,000 after purchasing an additional 5,108 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Cosan during the 4th quarter valued at about $41,000. PNC Financial Services Group Inc. increased its holdings in Cosan by 181.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,790 shares of the company’s stock valued at $53,000 after purchasing an additional 6,311 shares during the period. Finally, Invesco Ltd. purchased a new position in Cosan during the 4th quarter valued at about $58,000.

About Cosan

Cosan SA engages in the fuel distribution business. It operates through Raízen, Compass, Moove, Rumo, and Radar segments. The company’s Raízen segment engages in the production, commercialization, origination, and trading of ethanol, bioenergy, renewable sources, and sugar; trading and resale of electricity; and distribution and commercialization of fuels and lubricants.