Cosan (NYSE:CSAN) Trading 8.3% Higher – Here’s Why

Shares of Cosan S.A. Sponsored ADR (NYSE:CSAN) traded up 8.3% during mid-day trading on Friday . The stock traded as high as $2.77 and last traded at $2.75. Approximately 1,027,612 shares were traded during trading, a decline of 50% from the average daily volume of 2,066,145 shares. The stock had previously closed at $2.54.

Wall Street Analyst Weigh In

CSAN has been the subject of several research analyst reports. HSBC lowered 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 upgraded shares of Cosan to a “hold” rating in a research report on Monday, June 29th. Zacks Research upgraded shares of Cosan to a “hold” rating in a research report on Thursday, June 18th. Jefferies Financial Group cut shares of Cosan to a “hold” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cosan in a report 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $3.85.

Cosan Price Performance

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 firm has a market cap of $2.75 billion, a price-to-earnings ratio of -1.28 and a beta of 0.70. The stock has a 50-day moving average of $2.89 and a two-hundred day moving average of $3.66.

Cosan (NYSE:CSAN) last posted its quarterly earnings data on Saturday, August 15th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). Cosan had a negative return on equity of 12.58% and a negative net margin of 21.83%.The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $996.01 million. On average, analysts anticipate that Cosan S.A. Sponsored ADR will post -0.27 EPS for the current year.

Institutional Trading of Cosan

A number of hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its holdings 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 valued at $1,034,000 after buying an additional 197,987 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Cosan by 79.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 49,306 shares of the company’s stock worth $257,000 after acquiring an additional 21,818 shares in the last quarter. Jane Street Group LLC boosted its position in Cosan by 11.1% during the 1st quarter. Jane Street Group LLC now owns 92,126 shares of the company’s stock worth $481,000 after acquiring an additional 9,181 shares during the period. JPMorgan Chase & Co. grew its stake in Cosan by 4,668.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 46,823 shares of the company’s stock valued at $236,000 after acquiring an additional 45,841 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Cosan during the 2nd quarter valued at about $109,000.

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.