Cosan (NYSE:CSAN) Trading Down 6.5% – Here’s What Happened

Cosan S.A. Sponsored ADR (NYSE:CSAN) shares were down 6.5% on Tuesday . The stock traded as low as $4.39 and last traded at $4.3650. Approximately 758,183 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 1,599,313 shares. The stock had previously closed at $4.67.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CSAN shares. The Goldman Sachs Group reduced their price target on Cosan from $5.00 to $4.50 and set a “neutral” rating on the stock in a research note on Monday, December 1st. Hsbc Global Res raised shares of Cosan from a “moderate sell” rating to a “hold” rating in a research note on Friday, December 5th. Wall Street Zen upgraded shares of Cosan from a “hold” rating to a “buy” rating in a report on Saturday, November 29th. Zacks Research lowered Cosan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Finally, HSBC set a $5.00 price target on Cosan in a report on Friday, December 5th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.50.

Cosan Price Performance

The company has a quick ratio of 1.65, a current ratio of 1.80 and a debt-to-equity ratio of 2.01. The company has a 50 day moving average of $4.68 and a 200-day moving average of $4.79. The stock has a market capitalization of $2.05 billion, a P/E ratio of -2.98 and a beta of 0.85.

Cosan (NYSE:CSAN) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.49). The business had revenue of $2 billion during the quarter, compared to analyst estimates of $7.09 billion. Cosan had a negative net margin of 32.24% and a negative return on equity of 36.85%. Sell-side analysts predict that Cosan S.A. Sponsored ADR will post 0.2 EPS for the current year.

Institutional Investors Weigh In On Cosan

Hedge funds have recently added to or reduced their stakes in the stock. FORA Capital LLC acquired a new stake in shares of Cosan in the 1st quarter worth about $58,000. Ballentine Partners LLC bought a new stake in shares of Cosan during the second quarter valued at approximately $64,000. Verus Capital Partners LLC acquired a new position in shares of Cosan during the third quarter worth approximately $69,000. Savant Capital LLC bought a new position in Cosan in the 2nd quarter worth approximately $77,000. Finally, Russell Investments Group Ltd. acquired a new stake in Cosan in the 2nd quarter valued at approximately $109,000.

About Cosan

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.