Cosan (NYSE:CSAN) Sets New 1-Year Low After Insider Selling

Shares of Cosan S.A. Sponsored ADR (NYSE:CSAN) reached a new 52-week low during trading on Tuesday after an insider sold shares in the company. The company traded as low as $3.23 and last traded at $3.25, with a volume of 1085305 shares changing hands. The stock had previously closed at $3.36.

Specifically, Director Rubens Ometto Silveira Mello sold 77,640 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $3.44, for a total transaction of $267,081.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Maria Rita De Carvalh Drummond sold 37,400 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 2,128,536 shares of the company’s stock, valued at approximately $11,664,377.28. This trade represents a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other Cosan news, insider Maria Rita De Carvalh Drummond sold 36,200 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $5.48, for a total transaction of $198,376.00. Following the completion of the sale, the insider owned 2,165,936 shares of the company’s stock, valued at approximately $11,869,329.28. This represents a 1.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

A number of analysts have weighed in on CSAN shares. HSBC downgraded Cosan from a “hold” rating to a “reduce” rating and decreased their price target for the stock from $5.00 to $3.20 in a report on Tuesday. Jefferies Financial Group cut Cosan to a “hold” rating in a research note on Tuesday. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Cosan currently has a consensus rating of “Reduce” and an average price target of $3.85.

Cosan Price Performance

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 business’s fifty day moving average price is $3.97 and its 200-day moving average price is $4.33. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -1.27 and a beta of 0.82.

Cosan (NYSE:CSAN) last issued its quarterly earnings results on Saturday, February 14th. The company reported ($1.61) 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%.

Hedge Funds Weigh In On Cosan

A number of hedge funds and other institutional investors have recently bought and sold shares of CSAN. Royal Bank of Canada increased its holdings in shares of Cosan by 3,266.6% in the 1st quarter. Royal Bank of Canada now owns 12,389 shares of the company’s stock worth $51,000 after buying an additional 12,021 shares during the last quarter. Barometer Capital Management Inc. grew its position in Cosan by 1,839.0% in the first quarter. Barometer Capital Management Inc. now owns 171,600 shares of the company’s stock worth $707,000 after acquiring an additional 162,750 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Cosan by 115.3% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 176,680 shares of the company’s stock valued at $728,000 after acquiring an additional 94,605 shares during the last quarter. SmartHarvest Portfolios LLC purchased a new stake in shares of Cosan in the 1st quarter valued at $46,000. Finally, Blue Trust Inc. boosted its stake in shares of Cosan by 12,141.9% in the 1st quarter. Blue Trust Inc. now owns 12,854 shares of the company’s stock valued at $53,000 after purchasing 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.