Cosan (NYSE:CSAN) Reaches New 1-Year Low Following Insider Selling

Cosan S.A. Sponsored ADR (NYSE:CSAN)’s stock price hit a new 52-week low during mid-day trading on Tuesday following insider selling activity. The company traded as low as $3.23 and last traded at $3.25, with a volume of 1085305 shares changing hands. The stock had previously closed at $3.36.

Specifically, Director Rubens Ometto Silveira Mello sold 77,640 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $3.44, for a total value of $267,081.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Maria Rita De Carvalh Drummond sold 37,400 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $5.48, for a total transaction of $204,952.00. Following the completion of the transaction, the insider owned 2,128,536 shares of the company’s stock, valued at approximately $11,664,377.28. This trade represents a 1.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In related news, insider Maria Rita De Carvalh Drummond sold 36,200 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $5.48, for a total transaction of $198,376.00. Following the completion of the transaction, the insider owned 2,165,936 shares in the company, valued at $11,869,329.28. This represents a 1.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

CSAN has been the subject of several research analyst reports. HSBC downgraded shares of Cosan from a “hold” rating to a “reduce” rating and reduced their price target for the stock from $5.00 to $3.20 in a research report on Tuesday. Jefferies Financial Group downgraded shares of Cosan to a “hold” rating in a report on Tuesday. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $3.85.

Cosan Price Performance

The company has a current ratio of 1.80, a quick ratio of 1.65 and a debt-to-equity ratio of 2.01. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -1.27 and a beta of 0.82. The stock’s fifty day moving average price is $3.97 and its 200-day moving average price is $4.33.

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

Hedge Funds Weigh In On Cosan

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SmartHarvest Portfolios LLC purchased a new position in Cosan in the 1st quarter valued at approximately $46,000. Caitong International Asset Management Co. Ltd purchased a new position in Cosan in the 4th quarter valued at approximately $46,000. Royal Bank of Canada boosted its position in Cosan by 3,266.6% in the 1st quarter. Royal Bank of Canada now owns 12,389 shares of the company’s stock valued at $51,000 after buying an additional 12,021 shares during the period. Tuttle Capital Management LLC purchased a new position in Cosan in the 4th quarter valued at approximately $51,000. Finally, Blue Trust Inc. boosted its position 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 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.