Cosan S.A. Sponsored ADR (NYSE:CSAN) Short Interest Update

Cosan S.A. Sponsored ADR (NYSE:CSAN) saw a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 3,177,008 shares, a growth of 66.7% from the May 14th total of 1,905,740 shares. Based on an average daily volume of 2,918,419 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.3% of the company’s shares are sold short.

Cosan Stock Down 2.1%

NYSE CSAN traded down $0.06 during trading on Monday, reaching $2.62. 1,606,403 shares of the company’s stock traded hands, compared to its average volume of 2,309,028. Cosan has a 12-month low of $2.52 and a 12-month high of $6.22. 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 firm has a market cap of $2.59 billion, a price-to-earnings ratio of -1.06 and a beta of 0.74. The company’s 50 day simple moving average is $3.69 and its two-hundred day simple moving average is $4.15.

Cosan (NYSE:CSAN) last released its quarterly earnings data on Saturday, February 14th. The company reported ($1.61) earnings per share (EPS) for the quarter. The business had revenue of $1.74 billion for the quarter. Cosan had a negative net margin of 24.09% and a negative return on equity of 14.30%.

Analyst Ratings Changes

Several analysts have recently weighed in on CSAN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cosan in a research note on Tuesday, June 9th. HSBC downgraded Cosan from a “hold” rating to a “reduce” rating and reduced their price objective for the stock from $5.00 to $3.20 in a report on Tuesday, May 26th. Finally, Jefferies Financial Group lowered Cosan to a “hold” rating in a research report on Tuesday, May 26th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $3.85.

Insiders Place Their Bets

In other news, Director Rubens Ometto Silveira Mello sold 77,640 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $3.44, for a total value of $267,081.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Marcelo Eduardo Martins purchased 2,441,528 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $25,136,070.04. The trade was a 99.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 187,040 shares of company stock valued at $869,816 over the last 90 days.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. SmartHarvest Portfolios LLC bought a new stake in Cosan during the first quarter valued at about $46,000. Caitong International Asset Management Co. Ltd bought a new position in Cosan in the fourth quarter worth about $46,000. Tuttle Capital Management LLC purchased a new stake in shares of Cosan during the fourth quarter valued at about $51,000. Royal Bank of Canada lifted its position in shares of Cosan by 3,266.6% during the first quarter. Royal Bank of Canada now owns 12,389 shares of the company’s stock valued at $51,000 after buying an additional 12,021 shares during the last quarter. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of Cosan in the 4th quarter valued at about $53,000.

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.