Cosan (NYSE:CSAN) Reaches New 1-Year Low – Here’s What Happened

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

Analysts Set New Price Targets

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

Cosan Trading Down 0.6%

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 has a market capitalization of $3.31 billion, a PE ratio of -1.36 and a beta of 0.82. The company’s fifty day simple moving average is $4.00 and its 200-day simple moving average is $4.34.

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

Insider Transactions at Cosan

In other Cosan news, CEO Marcelo Eduardo Martins bought 2,441,528 shares of Cosan stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of $5.14 per share, for a total transaction of $12,549,453.92. Following the completion of the transaction, the chief executive officer directly owned 4,890,286 shares of the company’s stock, valued at approximately $25,136,070.04. This represents a 99.70% increase in their ownership of the stock. The purchase was disclosed in a legal 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 stock in a transaction dated 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 owned 2,128,536 shares of the company’s stock, valued at $11,664,377.28. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 109,400 shares of company stock valued at $602,734 over the last quarter.

Institutional Investors Weigh In On Cosan

A number of hedge funds have recently modified their holdings of CSAN. SmartHarvest Portfolios LLC acquired a new stake in shares of Cosan in the first quarter valued at about $46,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Cosan in the fourth quarter valued at about $46,000. Tuttle Capital Management LLC acquired a new stake in shares of Cosan in the fourth quarter valued at about $51,000. Royal Bank of Canada raised its position in shares of Cosan by 3,266.6% in the first 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 last quarter. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Cosan in the fourth quarter valued at about $53,000.

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.