Cosan (NYSE:CSAN) Shares Gap Up – What’s Next?

Cosan S.A. Sponsored ADR (NYSE:CSAN)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $2.82, but opened at $2.94. Cosan shares last traded at $2.8850, with a volume of 179,898 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of Cosan to a “hold” rating in a research note on Tuesday, May 26th. Zacks Research upgraded Cosan to a “hold” rating in a report on Thursday, June 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cosan in a research report on Tuesday, June 9th. Citigroup upgraded Cosan to a “hold” rating in a report on Monday, June 29th. Finally, HSBC downgraded Cosan from a “hold” rating to a “reduce” rating and lowered their price target for the company from $5.00 to $3.20 in a research report on Tuesday, May 26th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $3.85.

Cosan Stock Up 2.5%

The stock has a market cap of $2.87 billion, a P/E ratio of -1.34 and a beta of 0.70. The firm has a 50 day simple moving average of $2.90 and a two-hundred day simple moving average of $3.59. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.76 and a current ratio of 1.87.

Cosan (NYSE:CSAN) last released its quarterly earnings results on Saturday, August 15th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $996.01 million. Cosan had a negative return on equity of 12.58% and a negative net margin of 21.83%. Equities research analysts predict that Cosan S.A. Sponsored ADR will post -0.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CSAN. UBS Group AG grew its holdings in shares of 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 acquiring an additional 941,548 shares during the last quarter. Monaco Asset Management SAM lifted its holdings in shares of Cosan by 200.5% during the fourth 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 during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Cosan by 5,210.4% during the fourth 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 during the last quarter. XTX Topco Ltd boosted its position in shares of Cosan by 1,312.8% in 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 during the period. Finally, Millennium Management LLC boosted its position in shares of Cosan by 235.0% in 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 during the period.

About Cosan

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.