Cosan S.A. Sponsored ADR (NYSE:CSAN) Sees Significant Drop in Short Interest

Cosan S.A. Sponsored ADR (NYSE:CSAN) was the recipient of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 2,234,518 shares, a drop of 45.6% from the June 30th total of 4,109,799 shares. Based on an average daily trading volume, of 1,027,373 shares, the short-interest ratio is currently 2.2 days. Approximately 0.2% of the shares of the company are sold short.

Insider Transactions at Cosan

In other news, CEO Marcelo Eduardo Martins acquired 2,441,528 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average cost of $5.14 per share, for a total transaction of $12,549,453.92. Following the transaction, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rubens Ometto Silveira Mello sold 77,640 shares of the business’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.

Hedge Funds Weigh In On Cosan

Hedge funds and other institutional investors have recently modified their holdings of the business. Verus Capital Partners LLC boosted its stake in Cosan by 20.0% in the fourth quarter. Verus Capital Partners LLC now owns 18,000 shares of the company’s stock valued at $71,000 after buying an additional 3,000 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Cosan by 4.2% in the 2nd quarter. Jane Street Group LLC now owns 95,992 shares of the company’s stock valued at $485,000 after purchasing an additional 3,866 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cosan by 40.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,753 shares of the company’s stock valued at $58,000 after purchasing an additional 4,255 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Cosan by 27.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 27,416 shares of the company’s stock valued at $126,000 after purchasing an additional 5,856 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Cosan by 4.1% during the 1st quarter. SG Americas Securities LLC now owns 196,491 shares of the company’s stock worth $810,000 after purchasing an additional 7,739 shares in the last quarter.

Cosan Price Performance

Shares of Cosan stock traded up $0.10 on Thursday, reaching $3.15. 1,462,007 shares of the stock were exchanged, compared to its average volume of 859,771. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.76 and a current ratio of 1.87. The firm has a market cap of $3.13 billion, a PE ratio of -1.28 and a beta of 0.72. The firm’s 50 day moving average is $2.95 and its 200-day moving average is $3.81. Cosan has a one year low of $2.52 and a one year high of $6.01.

Analysts Set New Price Targets

A number of brokerages have weighed in on CSAN. Citigroup upgraded Cosan to a “hold” rating in a research report on Monday, June 29th. Jefferies Financial Group downgraded shares of Cosan to a “hold” rating in a research report on Tuesday, May 26th. Zacks Research upgraded Cosan to a “hold” rating in a research report on Thursday, June 18th. HSBC cut Cosan from a “hold” rating to a “reduce” rating and lowered their target price for the stock from $5.00 to $3.20 in a report on Tuesday, May 26th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cosan in a research note on Tuesday, June 9th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $3.85.

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.