Cosan S.A. Sponsored ADR (NYSE:CSAN) Sees Large Increase in Short Interest

Cosan S.A. Sponsored ADR (NYSE:CSAN) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 3,725,855 shares, an increase of 55.0% from the July 30th total of 2,404,315 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 1,301,987 shares, the days-to-cover ratio is currently 2.9 days.

Hedge Funds Weigh In On Cosan

A number of hedge funds have recently made changes to their positions in CSAN. Verus Capital Partners LLC increased its position in shares of Cosan by 20.0% in the fourth quarter. Verus Capital Partners LLC now owns 18,000 shares of the company’s stock worth $71,000 after acquiring an additional 3,000 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Cosan by 4.2% during the second quarter. Jane Street Group LLC now owns 95,992 shares of the company’s stock worth $485,000 after purchasing an additional 3,866 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Cosan by 27.2% during the third quarter. Russell Investments Group Ltd. now owns 27,416 shares of the company’s stock worth $126,000 after purchasing an additional 5,856 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Cosan by 4.1% in the first quarter. SG Americas Securities LLC now owns 196,491 shares of the company’s stock worth $810,000 after buying an additional 7,739 shares during the period. Finally, SmartHarvest Portfolios LLC purchased a new stake in shares of Cosan during the 1st quarter valued at about $46,000.

Cosan Price Performance

Shares of NYSE CSAN opened at $2.90 on Thursday. The company has a current ratio of 1.87, a quick ratio of 1.76 and a debt-to-equity ratio of 2.12. The company’s 50-day moving average price is $2.91 and its 200 day moving average price is $3.55. Cosan has a 52 week low of $2.38 and a 52 week high of $6.01. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -1.34 and a beta of 0.71.

Cosan (NYSE:CSAN) last posted its earnings results on Saturday, August 15th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Cosan had a negative net margin of 21.83% and a negative return on equity of 12.58%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $996.01 million. As a group, research analysts forecast that Cosan will post -0.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Cosan Company Profile

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.