Cosan (NYSE:CSAN) Sets New 12-Month Low – Should You Sell?

Shares of Cosan S.A. Sponsored ADR (NYSE:CSAN) reached a new 52-week low on Wednesday . The company traded as low as $2.52 and last traded at $2.52, with a volume of 464806 shares changing hands. The stock had previously closed at $2.58.

Wall Street Analyst Weigh In

CSAN has been the topic of several research reports. HSBC cut Cosan from a “hold” rating to a “reduce” rating and dropped their target price for the stock from $5.00 to $3.20 in a research report on Tuesday, May 26th. Jefferies Financial Group cut shares of Cosan to a “hold” rating in a research note on Tuesday, May 26th. Zacks Research raised shares of Cosan to a “hold” rating in a report on Thursday, June 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Cosan in a research report on Tuesday, June 9th. Finally, Citigroup upgraded shares of Cosan to a “hold” rating in a research report on Monday, June 29th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $3.85.

Cosan Price Performance

The company has a quick ratio of 1.76, a current ratio of 1.87 and a debt-to-equity ratio of 2.12. The stock has a market cap of $2.58 billion, a P/E ratio of -1.06 and a beta of 0.70. The firm has a 50 day moving average price of $2.91 and a 200 day moving average price of $3.73.

Insider Activity at Cosan

In other news, CEO Marcelo Eduardo Martins purchased 2,441,528 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average cost of $5.14 per share, for a total transaction of $12,549,453.92. Following the completion of the transaction, the chief executive officer directly owned 4,890,286 shares in the company, valued at $25,136,070.04. This trade represents a 99.70% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Rubens Ometto Silveira Mello sold 77,640 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $3.44, for a total transaction of $267,081.60. The disclosure for this sale is available in the SEC filing.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. UBS Group AG increased its stake 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 lifted its position in shares of Cosan by 200.5% in the fourth quarter. Monaco Asset Management SAM now owns 3,004,813 shares of the company’s stock valued at $11,869,000 after acquiring an additional 2,004,813 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Cosan by 5,210.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 776,592 shares of the company’s stock valued at $3,068,000 after acquiring an additional 761,968 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of Cosan by 1,312.8% in the fourth quarter. XTX Topco Ltd now owns 588,722 shares of the company’s stock worth $2,325,000 after acquiring an additional 547,051 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Cosan by 235.0% in the third quarter. Millennium Management LLC now owns 487,514 shares of the company’s stock worth $2,243,000 after acquiring an additional 341,973 shares during the period.

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.