Cosan (NYSE:CSAN) Reaches New 52-Week Low – Here’s What Happened

Cosan S.A. Sponsored ADR (NYSE:CSAN)’s stock price reached a new 52-week low on Friday . The company traded as low as $2.74 and last traded at $2.7350, with a volume of 1140131 shares trading hands. The stock had previously closed at $2.87.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CSAN. HSBC downgraded shares of Cosan from a “hold” rating to a “reduce” rating and dropped their price target for the company from $5.00 to $3.20 in a report on Tuesday, May 26th. Jefferies Financial Group downgraded shares of Cosan to a “hold” rating in a 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. According to MarketBeat.com, Cosan has an average rating of “Reduce” and a consensus target price of $3.85.

Cosan Stock Performance

The stock has a market cap of $2.76 billion, a P/E ratio of -1.13 and a beta of 0.74. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.80 and a quick ratio of 1.65. The firm’s 50-day moving average price is $3.85 and its 200-day moving average price is $4.24.

Cosan (NYSE:CSAN) last released its quarterly earnings data on Saturday, February 14th. The company reported ($1.61) earnings per share (EPS) for the quarter. Cosan had a negative net margin of 32.24% and a negative return on equity of 13.94%. The company had revenue of $1.74 billion for the quarter.

Insiders Place Their Bets

In other news, insider Maria Rita De Carvalh Drummond sold 37,400 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $5.48, for a total transaction of $204,952.00. Following the completion of the sale, the insider directly owned 2,128,536 shares of the company’s stock, valued at approximately $11,664,377.28. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rubens Ometto Silveira Mello sold 77,640 shares of the company’s stock in a transaction dated 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. Insiders sold 187,040 shares of company stock valued at $869,816 over the last three months.

Hedge Funds Weigh In On Cosan

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