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

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

Analyst Ratings Changes

CSAN has been the topic of several recent research reports. Jefferies Financial Group lowered Cosan to a “hold” rating in a research report on Tuesday, May 26th. HSBC lowered Cosan from a “hold” rating to a “reduce” rating and lowered their price objective for the stock from $5.00 to $3.20 in a research report on Tuesday, May 26th. Three research 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 has a consensus rating of “Reduce” and a consensus target price of $3.85.

Cosan Stock Down 3.0%

The business has a 50-day moving average of $3.85 and a 200-day moving average of $4.24. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.65 and a current ratio of 1.80. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -1.13 and a beta of 0.74.

Cosan (NYSE:CSAN) last issued its quarterly earnings data on Saturday, February 14th. The company reported ($1.61) earnings per share (EPS) for the quarter. The business 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%.

Insider Activity at Cosan

In other Cosan news, CEO Marcelo Eduardo Martins bought 2,441,528 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $5.14 per share, for a total transaction of $12,549,453.92. Following the completion of the purchase, the chief executive officer directly owned 4,890,286 shares in the company, valued at $25,136,070.04. This trade represents a 99.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Maria Rita De Carvalh Drummond sold 37,400 shares of Cosan stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $5.48, for a total value of $204,952.00. Following the transaction, the insider directly owned 2,128,536 shares in the company, 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. Insiders sold 187,040 shares of company stock worth $869,816 in the last three months.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SmartHarvest Portfolios LLC acquired a new position in shares of Cosan in the first quarter valued at approximately $46,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Cosan in the fourth quarter valued at approximately $46,000. Royal Bank of Canada increased its holdings 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 purchasing an additional 12,021 shares during the period. Tuttle Capital Management LLC acquired a new position in shares of Cosan in the fourth quarter valued at approximately $51,000. Finally, Blue Trust Inc. boosted its stake in shares of Cosan by 12,141.9% in the first 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 in the last quarter.

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.