Short Interest in Cosan S.A. Sponsored ADR (NYSE:CSAN) Expands By 66.7%

Cosan S.A. Sponsored ADR (NYSE:CSAN) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 3,177,008 shares, an increase of 66.7% from the May 14th total of 1,905,740 shares. Based on an average trading volume of 2,918,419 shares, the short-interest ratio is currently 1.1 days. Currently, 0.3% of the shares of the stock are short sold.

Cosan Trading Up 7.1%

Cosan stock traded up $0.19 during trading hours on Wednesday, hitting $2.78. The stock had a trading volume of 1,623,743 shares, compared to its average volume of 2,290,704. The business’s 50 day simple moving average is $3.62 and its 200-day simple moving average is $4.12. Cosan has a one year low of $2.52 and a one year high of $6.01. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -1.13 and a beta of 0.74. The company has a quick ratio of 1.76, a current ratio of 1.87 and a debt-to-equity ratio of 2.12.

Cosan (NYSE:CSAN) last released its quarterly earnings results on Saturday, February 14th. The company reported ($1.61) earnings per share for the quarter. The firm had revenue of $1.74 billion for the quarter. Cosan had a negative return on equity of 14.30% and a negative net margin of 24.09%.

Analysts Set New Price Targets

Several analysts recently weighed in on CSAN shares. Jefferies Financial Group lowered Cosan to a “hold” rating in a research note on Tuesday, May 26th. HSBC downgraded shares of Cosan from a “hold” rating to a “reduce” rating and reduced their price target for the company from $5.00 to $3.20 in a research note on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cosan in a report on Tuesday, June 9th. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $3.85.

Insider Transactions at Cosan

In other Cosan news, Director Rubens Ometto Silveira Mello sold 77,640 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $3.44, for a total transaction of $267,081.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Maria Rita De Carvalh Drummond sold 37,400 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $5.48, for a total value of $204,952.00. Following the completion of the sale, the insider directly owned 2,128,536 shares in the company, valued at approximately $11,664,377.28. This represents a 1.73% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 187,040 shares of company stock valued at $869,816.

Hedge Funds Weigh In On Cosan

Large investors have recently modified their holdings of the business. Monaco Asset Management SAM increased its stake in shares of Cosan by 200.5% in the fourth quarter. Monaco Asset Management SAM now owns 3,004,813 shares of the company’s stock valued at $11,869,000 after buying an additional 2,004,813 shares during the period. UBS Group AG boosted its holdings in Cosan by 36.9% in the fourth quarter. UBS Group AG now owns 3,492,792 shares of the company’s stock valued at $13,797,000 after acquiring an additional 941,548 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Cosan by 5,210.4% during the 4th 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 period. XTX Topco Ltd increased its position in Cosan by 1,312.8% during 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, Tejara Capital Ltd bought a new position in Cosan during the 4th quarter worth approximately $1,386,000.

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.