Cosan (NYSE:CSAN) Stock Price Down 6.7% – Here’s What Happened

Cosan S.A. Sponsored ADR (NYSE:CSAN)’s stock price was down 6.7% on Tuesday . The stock traded as low as $3.32 and last traded at $3.2950. Approximately 1,666,624 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 2,164,630 shares. The stock had previously closed at $3.53.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cosan in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $4.75.

Cosan Trading Down 7.8%

The firm has a market capitalization of $3.23 billion, a PE ratio of -1.34 and a beta of 0.82. The business has a 50 day moving average price of $4.11 and a 200-day moving average price of $4.38. The company has a current ratio of 1.80, a quick ratio of 1.65 and a debt-to-equity ratio of 2.01.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CSAN. Royal Bank of Canada increased its holdings in Cosan by 113,135.4% in 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. increased its holdings in Cosan by 79.4% in the first quarter. Goldman Sachs Group Inc. now owns 49,306 shares of the company’s stock valued at $257,000 after buying an additional 21,818 shares in the last quarter. Jane Street Group LLC increased its holdings in Cosan by 11.1% in the first quarter. Jane Street Group LLC now owns 92,126 shares of the company’s stock valued at $481,000 after buying an additional 9,181 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Cosan by 4,668.1% during the second quarter. JPMorgan Chase & Co. now owns 46,823 shares of the company’s stock worth $236,000 after purchasing an additional 45,841 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Cosan during the second quarter worth $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.