Cosan Ltd (NYSE:CZZ) Short Interest Down 18.4% in June
Cosan Ltd (NYSE:CZZ) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 1,254,600 shares, a decline of 18.4% from the May 30th total of 1,536,700 shares. Based on an average trading volume of 747,100 shares, the days-to-cover ratio is presently 1.7 days. Approximately 1.4% of the company’s shares are sold short.
Several hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Cosan during the 4th quarter worth $39,643,000. FMR LLC increased its position in Cosan by 86,343.8% during the 4th quarter. FMR LLC now owns 1,590,566 shares of the basic materials company’s stock valued at $13,997,000 after buying an additional 1,588,726 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Cosan by 90.8% in the first quarter. JPMorgan Chase & Co. now owns 1,951,346 shares of the basic materials company’s stock valued at $22,616,000 after purchasing an additional 928,498 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Cosan in the first quarter valued at about $8,897,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Cosan in the fourth quarter worth about $5,142,000. Institutional investors and hedge funds own 22.84% of the company’s stock.
Shares of CZZ stock traded up $0.01 during mid-day trading on Thursday, hitting $14.41. The stock had a trading volume of 904,723 shares, compared to its average volume of 1,010,457. Cosan has a 12-month low of $6.20 and a 12-month high of $14.65. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 14.41 and a beta of 1.33. The stock has a 50-day moving average of $12.95. The company has a quick ratio of 1.62, a current ratio of 1.73 and a debt-to-equity ratio of 1.67.
Separately, Zacks Investment Research upgraded Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Monday, April 29th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $11.92.
Cosan Company Profile
Cosan Limited, together with its subsidiaries, engages in fuel and natural gas distribution, logistics, lubricant, sugar and ethanol businesses primarily in Brazil and internationally. The company's Raízen Energia produces and markets products derived from sugar cane, including raw sugar, anhydrous, and hydrated ethanol, as well as activities related to energy cogeneration from sugarcane bagasse.
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