Cosan (NYSE:CSAN) Trading 4.4% Higher – Here’s What Happened

Cosan S.A. Sponsored ADR (NYSE:CSAN) shares traded up 4.4% during mid-day trading on Tuesday . The company traded as high as $3.03 and last traded at $3.0790. 161,652 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 2,082,427 shares. The stock had previously closed at $2.95.

Analyst Ratings Changes

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

Cosan Stock Up 4.2%

The business has a 50-day moving average of $2.91 and a 200 day moving average of $3.57. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.87 and a quick ratio of 1.76. The company has a market capitalization of $3.05 billion, a PE ratio of -1.42 and a beta of 0.70.

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

Institutional Trading of Cosan

A number of large investors have recently made changes to their positions in CSAN. Royal Bank of Canada lifted its holdings in shares of Cosan by 3,266.6% in the 1st quarter. Royal Bank of Canada now owns 12,389 shares of the company’s stock worth $51,000 after buying an additional 12,021 shares during the period. Barometer Capital Management Inc. increased its position in shares of Cosan by 1,839.0% during the first quarter. Barometer Capital Management Inc. now owns 171,600 shares of the company’s stock worth $707,000 after purchasing an additional 162,750 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in Cosan by 115.3% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 176,680 shares of the company’s stock valued at $728,000 after buying an additional 94,605 shares during the last quarter. SmartHarvest Portfolios LLC acquired a new stake in shares of Cosan during the first quarter worth $46,000. Finally, Blue Trust Inc. raised its holdings in Cosan by 12,141.9% in the 1st quarter. Blue Trust Inc. now owns 12,854 shares of the company’s stock valued at $53,000 after acquiring an additional 12,749 shares during the last quarter.

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.