Cosan (NYSE:CSAN) Shares Down 7.5% – Here’s Why

Cosan S.A. (NYSE:CSAN) dropped 7.5% during mid-day trading on Tuesday . The stock traded as low as $5.10 and last traded at $5.11. Approximately 300,749 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 1,021,538 shares. The stock had previously closed at $5.52.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CSAN shares. UBS Group raised Cosan to a “strong-buy” rating in a research note on Friday, October 25th. Citigroup restated a “buy” rating and set a $19.00 price objective on shares of Cosan in a report on Monday, December 23rd.

Cosan Trading Down 1.1 %

The company’s 50 day moving average is $6.14 and its 200 day moving average is $8.19. The company has a quick ratio of 1.73, a current ratio of 1.86 and a debt-to-equity ratio of 1.31.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CSAN. Caprock Group LLC bought a new position in Cosan during the 4th quarter worth about $61,000. Blue Trust Inc. lifted its position in shares of Cosan by 180.2% in the 4th quarter. Blue Trust Inc. now owns 12,519 shares of the company’s stock worth $68,000 after purchasing an additional 8,051 shares during the period. Clear Harbor Asset Management LLC bought a new position in shares of Cosan during the fourth quarter valued at approximately $147,000. Sivia Capital Partners LLC purchased a new position in Cosan during the fourth quarter valued at approximately $78,000. Finally, SPX Gestao de Recursos Ltda increased its holdings in Cosan by 113.2% during the third quarter. SPX Gestao de Recursos Ltda now owns 65,543 shares of the company’s stock valued at $627,000 after buying an additional 34,798 shares during the period.

Cosan Company Profile

Cosan SA engages in the fuel distribution business. It operates through Raízen, Compass, Moove, Rumo, and Radar segments. The company’s Raízen segment engages in the production, commercialization, origination, and trading of ethanol, bioenergy, renewable sources, and sugar; trading and resale of electricity; and distribution and commercialization of fuels and lubricants.