Cosan (NYSE:CSAN) Sees Large Volume Increase – Here’s Why

Shares of Cosan S.A. Sponsored ADR (NYSE:CSAN) saw unusually-strong trading volume on Thursday . Approximately 2,590,161 shares traded hands during mid-day trading, an increase of 72% from the previous session’s volume of 1,505,795 shares.The stock last traded at $4.8750 and had previously closed at $4.49.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CSAN shares. Weiss Ratings restated a “sell (d)” rating on shares of Cosan in a report on Wednesday, October 8th. Wall Street Zen raised shares of Cosan from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. The Goldman Sachs Group decreased their price target on shares of Cosan from $6.60 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, August 27th. Hsbc Global Res raised shares of Cosan to a “moderate sell” rating in a research note on Monday, September 22nd. Finally, Zacks Research cut shares of Cosan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $9.47.

Cosan Stock Performance

The company’s 50-day simple moving average is $4.75 and its 200 day simple moving average is $4.91. The stock has a market cap of $2.21 billion, a P/E ratio of -5.20 and a beta of 1.00. The company has a current ratio of 2.13, a quick ratio of 1.98 and a debt-to-equity ratio of 1.88.

Cosan (NYSE:CSAN) last released its earnings results on Thursday, August 14th. The company reported ($0.36) earnings per share (EPS) for the quarter. Cosan had a negative net margin of 28.08% and a negative return on equity of 27.61%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $7.12 billion. As a group, sell-side analysts expect that Cosan S.A. Sponsored ADR will post 0.2 EPS for the current fiscal year.

Institutional Trading of Cosan

Several hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in Cosan in the 2nd quarter worth about $3,049,000. Kapitalo Investimentos Ltda lifted its stake in shares of Cosan by 280.1% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 418,432 shares of the company’s stock valued at $1,925,000 after buying an additional 308,340 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Cosan by 3,995.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 306,859 shares of the company’s stock worth $1,602,000 after buying an additional 299,366 shares during the period. Martin Currie Ltd. grew its stake in Cosan by 20.1% in the 1st quarter. Martin Currie Ltd. now owns 1,439,121 shares of the company’s stock valued at $7,512,000 after buying an additional 240,613 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Cosan by 113,135.4% during the first quarter. Royal Bank of Canada now owns 198,162 shares of the company’s stock worth $1,034,000 after acquiring an additional 197,987 shares in the last quarter.

Cosan Company Profile

Cosan SA engages in the fuel distribution business. It operates through Raízen, Compass, Moove, Rumo, and Radar segments. The company’s Raízen segment engages in the production, commercialization, origination, and trading of ethanol, bioenergy, renewable sources, and sugar; trading and resale of electricity; and distribution and commercialization of fuels and lubricants.