Cosan (NYSE:CSAN) Shares Gap Down – Here’s What Happened

Cosan S.A. Sponsored ADR (NYSE:CSAN) shares gapped down prior to trading on Wednesday . The stock had previously closed at $5.30, but opened at $5.11. Cosan shares last traded at $4.9550, with a volume of 1,511,939 shares.

Analyst Upgrades and Downgrades

CSAN has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their target price on Cosan from $6.60 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, August 27th. Hsbc Global Res raised Cosan to a “moderate sell” rating in a research note on Monday, September 22nd. Zacks Research downgraded shares of Cosan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Wall Street Zen raised shares of Cosan from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, HSBC reaffirmed a “reduce” rating and issued a $4.40 target price on shares of Cosan in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $9.47.

Cosan Stock Up 0.1%

The stock has a market capitalization of $2.37 billion, a P/E ratio of -5.59 and a beta of 1.00. The company has a current ratio of 2.13, a quick ratio of 1.98 and a debt-to-equity ratio of 1.88. The stock’s 50 day simple moving average is $4.78 and its 200 day simple moving average is $4.90.

Cosan (NYSE:CSAN) last issued its earnings results on Friday, November 14th. The company reported ($0.47) earnings per share (EPS) for the quarter. Cosan had a negative net margin of 28.08% and a negative return on equity of 27.61%. As a group, research analysts predict that Cosan S.A. Sponsored ADR will post 0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Cosan

Several institutional investors and hedge funds have recently made changes to their positions in the company. FORA Capital LLC acquired a new stake in Cosan in the first quarter worth approximately $58,000. Ballentine Partners LLC bought a new stake in shares of Cosan in the 2nd quarter worth $64,000. Cerity Partners LLC acquired a new stake in shares of Cosan in the first quarter valued at $69,000. Verus Capital Partners LLC acquired a new stake in shares of Cosan in the third quarter valued at $69,000. Finally, Savant Capital LLC bought a new position in Cosan during the second quarter valued at about $77,000.

Cosan Company Profile

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.