Cosan (NYSE:CSAN) Hits New 52-Week Low – Time to Sell?

Cosan S.A. Sponsored ADR (NYSE:CSAN) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $2.52 and last traded at $2.52, with a volume of 464806 shares. The stock had previously closed at $2.58.

Wall Street Analysts Forecast Growth

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

Cosan Trading Down 1.9%

The business has a 50 day simple moving average of $2.92 and a 200 day simple moving average of $3.75. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.87 and a quick ratio of 1.76. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -1.03 and a beta of 0.70.

Insider Transactions at Cosan

In related news, CEO Marcelo Eduardo Martins purchased 2,441,528 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $5.14 per share, with a total value of $12,549,453.92. Following the completion of the purchase, the chief executive officer directly owned 4,890,286 shares of the company’s stock, valued at $25,136,070.04. This trade represents a 99.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rubens Ometto Silveira Mello sold 77,640 shares of the business’s stock in a transaction that occurred on 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.

Institutional Investors Weigh In On Cosan

A number of institutional investors and hedge funds have recently modified their holdings of the business. Verus Capital Partners LLC grew 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 acquiring an additional 3,000 shares during the period. Jane Street Group LLC lifted its holdings in shares of Cosan by 4.2% in the second 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 fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,753 shares of the company’s stock worth $58,000 after buying an additional 4,255 shares in the last quarter. Russell Investments Group Ltd. raised its position in Cosan by 27.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 27,416 shares of the company’s stock valued at $126,000 after buying an additional 5,856 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Cosan by 4.1% in the 1st quarter. SG Americas Securities LLC now owns 196,491 shares of the company’s stock valued at $810,000 after acquiring an additional 7,739 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.