Cosan (NYSE:CSAN) Sets New 1-Year Low – What’s Next?

Cosan S.A. Sponsored ADR (NYSE:CSAN) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $2.61 and last traded at $2.5950, with a volume of 445026 shares trading hands. The stock had previously closed at $2.63.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. HSBC cut Cosan from a “hold” rating to a “reduce” rating and cut their price objective for the company from $5.00 to $3.20 in a research note on Tuesday, May 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cosan in a research report on Tuesday. Finally, Jefferies Financial Group cut Cosan to a “hold” rating in a research report on Tuesday, May 26th. Three equities 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, Cosan currently has an average rating of “Reduce” and an average price target of $3.85.

Cosan Price Performance

The company has a current ratio of 1.87, a quick ratio of 1.65 and a debt-to-equity ratio of 2.12. The business has a 50-day moving average price of $3.75 and a two-hundred day moving average price of $4.18. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of -1.07 and a beta of 0.74.

Cosan (NYSE:CSAN) last announced its quarterly earnings results on Saturday, February 14th. The company reported ($1.61) earnings per share for the quarter. The company had revenue of $1.74 billion for the quarter. Cosan had a negative return on equity of 14.30% and a negative net margin of 24.09%.

Insider Buying and Selling

In related news, insider Maria Rita De Carvalh Drummond sold 37,400 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $5.48, for a total value of $204,952.00. Following the completion of the transaction, the insider directly owned 2,128,536 shares of the company’s stock, valued at $11,664,377.28. This represents a 1.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marcelo Eduardo Martins acquired 2,441,528 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $5.14 per share, with a total value of $12,549,453.92. Following the completion of the acquisition, the chief executive officer directly owned 4,890,286 shares in the company, valued at approximately $25,136,070.04. This represents a 99.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 187,040 shares of company stock valued at $869,816 in the last three months.

Hedge Funds Weigh In On Cosan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG grew its holdings in Cosan by 36.9% in the 4th quarter. UBS Group AG now owns 3,492,792 shares of the company’s stock worth $13,797,000 after buying an additional 941,548 shares in the last quarter. Monaco Asset Management SAM boosted its stake in Cosan by 200.5% during the 4th quarter. Monaco Asset Management SAM now owns 3,004,813 shares of the company’s stock valued at $11,869,000 after purchasing an additional 2,004,813 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Cosan by 5,210.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 776,592 shares of the company’s stock valued at $3,068,000 after purchasing an additional 761,968 shares in the last quarter. XTX Topco Ltd boosted its stake in Cosan by 1,312.8% during the 4th quarter. XTX Topco Ltd now owns 588,722 shares of the company’s stock valued at $2,325,000 after purchasing an additional 547,051 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Cosan by 235.0% during the 3rd quarter. Millennium Management LLC now owns 487,514 shares of the company’s stock valued at $2,243,000 after purchasing an additional 341,973 shares in the last quarter.

Cosan Company Profile

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.