Short Interest in Cosan Ltd. (CZZ) Increases By 113.9%
Cosan Ltd. (NYSE:CZZ) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 3,313,160 shares, an increase of 113.9% from the October 14th total of 1,549,142 shares. Based on an average trading volume of 2,633,353 shares, the days-to-cover ratio is presently 1.3 days. Currently, 2.2% of the company’s shares are sold short.
Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Cosan from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. Standpoint Research cut shares of Cosan from a “buy” rating to a “hold” rating in a research report on Friday, October 7th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in Cosan by 551.7% in the second quarter. Acadian Asset Management LLC now owns 2,274,624 shares of the company’s stock valued at $14,808,000 after buying an additional 1,925,569 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cosan by 51,910.9% in the first quarter. JPMorgan Chase & Co. now owns 1,073,505 shares of the company’s stock worth $5,282,000 after buying an additional 1,071,441 shares in the last quarter. Kleinwort Benson Investors Dublin Ltd purchased a new position in shares of Cosan during the second quarter worth $6,714,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Cosan during the third quarter worth $7,150,000. Finally, BARING ASSET MANAGEMENT Ltd purchased a new position in shares of Cosan during the second quarter worth $5,634,000. Hedge funds and other institutional investors own 52.39% of the company’s stock.
Cosan (NYSE:CZZ) opened at 7.05 on Friday. Cosan has a 52-week low of $2.47 and a 52-week high of $9.50. The firm has a 50-day moving average of $8.15 and a 200-day moving average of $6.79. The firm has a market cap of $1.87 billion, a PE ratio of 8.34 and a beta of 2.52.
Cosan Limited (Cosan) is a holding company. The Company’s segments include Raizen Energia, Raizen Combustiveis, COMGAS, Cosan Logistica, Radar, Lubricants and Cosan’s other business. The Company’s other business include other investments, in addition to the corporate activities. The Company offers Logistics services, including transportation, port loading and storage of sugar, leasing or lending of locomotives, wagons and other railway equipment, through its subsidiaries Rumo Logistica Operadora Multimodal SA (Rumo) and America Latina Logistica SA (ALL), logistic segment (Logistic).
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