Short Interest in Cosan S.A. Sponsored ADR (NYSE:CSAN) Grows By 66.7%

Cosan S.A. Sponsored ADR (NYSE:CSANGet Free Report) saw a significant increase in short interest in May. As of May 29th, there was short interest totaling 3,177,008 shares, an increase of 66.7% from the May 14th total of 1,905,740 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average trading volume of 2,918,419 shares, the short-interest ratio is presently 1.1 days.

Analysts Set New Price Targets

Several analysts have weighed in on CSAN shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Cosan in a research report on Tuesday, June 9th. HSBC downgraded shares of Cosan from a “hold” rating to a “reduce” rating and lowered their price objective for the stock from $5.00 to $3.20 in a research note on Tuesday, May 26th. Finally, Jefferies Financial Group lowered shares of Cosan to a “hold” rating in a report on Tuesday, May 26th. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $3.85.

Get Our Latest Stock Report on CSAN

Cosan Stock Performance

Shares of NYSE:CSAN traded down $0.06 during trading on Monday, hitting $2.62. The stock had a trading volume of 1,606,403 shares, compared to its average volume of 2,309,028. The company has a quick ratio of 1.76, a current ratio of 1.87 and a debt-to-equity ratio of 2.12. Cosan has a 12-month low of $2.52 and a 12-month high of $6.22. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -1.06 and a beta of 0.74. The stock has a 50-day simple moving average of $3.69 and a two-hundred day simple moving average of $4.15.

Cosan (NYSE:CSANGet Free Report) last issued its earnings results on Saturday, February 14th. The company reported ($1.61) EPS for the quarter. Cosan had a negative net margin of 24.09% and a negative return on equity of 14.30%. The firm had revenue of $1.74 billion during the quarter.

Insider Transactions at Cosan

In other news, Director Rubens Ometto Silveira Mello sold 77,640 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $3.44, for a total transaction of $267,081.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Maria Rita De Carvalh Drummond sold 37,400 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $5.48, for a total transaction of $204,952.00. Following the transaction, the insider owned 2,128,536 shares in the company, valued at approximately $11,664,377.28. This trade represents a 1.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 187,040 shares of company stock valued at $869,816.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in Cosan by 3,266.6% in the first quarter. Royal Bank of Canada now owns 12,389 shares of the company’s stock valued at $51,000 after purchasing an additional 12,021 shares during the last quarter. Barometer Capital Management Inc. raised its stake in shares of Cosan by 1,839.0% during the 1st quarter. Barometer Capital Management Inc. now owns 171,600 shares of the company’s stock valued at $707,000 after buying an additional 162,750 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Cosan by 115.3% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 176,680 shares of the company’s stock valued at $728,000 after buying an additional 94,605 shares during the period. SmartHarvest Portfolios LLC acquired a new position in shares of Cosan in the 1st quarter valued at about $46,000. Finally, Blue Trust Inc. boosted its stake in shares of Cosan by 12,141.9% in the first quarter. Blue Trust Inc. now owns 12,854 shares of the company’s stock worth $53,000 after buying an additional 12,749 shares during the last quarter.

Cosan Company Profile

(Get Free Report)

Cosan Limited (NYSE: CSAN) is a Brazilian diversified energy and logistics group focused on agribusiness, fuels, and infrastructure. Its core activities include the cultivation of sugarcane, production of ethanol and sugar, generation of bioelectricity from bagasse, and distribution of fuels under the Raízen joint venture with Shell. Through its subsidiary Moove, Cosan is a leading global producer of base oils and lubricants, while Comgás serves as one of Brazil’s largest natural gas distributors.

Founded in 1936 in the state of São Paulo, Cosan has grown through organic expansion and strategic acquisitions.

Further Reading

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