Cosan (NYSE:CSAN) Shares Up 2.7% – Here’s What Happened

Cosan S.A. Sponsored ADR (NYSE:CSAN) shares were up 2.7% during mid-day trading on Friday . The stock traded as high as $4.00 and last traded at $3.9850. Approximately 879,907 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 1,619,550 shares. The stock had previously closed at $3.88.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Cosan from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Monday, December 1st. Wall Street Zen raised Cosan from a “hold” rating to a “buy” rating in a report on Saturday, November 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Cosan in a research report on Wednesday, October 8th. HSBC set a $5.00 price target on Cosan in a report on Friday, December 5th. Finally, Hsbc Global Res raised Cosan from a “moderate sell” rating to a “hold” rating in a report on Friday, December 5th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $4.75.

Cosan Stock Up 1.4%

The stock has a market capitalization of $1.84 billion, a PE ratio of -2.67 and a beta of 0.85. The firm has a 50 day moving average of $4.64 and a two-hundred day moving average of $4.71. 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 posted its earnings results on Friday, November 14th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.49). Cosan had a negative return on equity of 36.85% and a negative net margin of 32.24%.The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Equities research analysts anticipate that Cosan S.A. Sponsored ADR will post 0.2 earnings per share for the current year.

Hedge Funds Weigh In On Cosan

Several hedge funds have recently added to or reduced their stakes in CSAN. Jane Street Group LLC lifted its holdings in shares of Cosan by 4.2% in the second quarter. Jane Street Group LLC now owns 95,992 shares of the company’s stock valued at $485,000 after purchasing an additional 3,866 shares in the last quarter. Clear Harbor Asset Management LLC raised its position in shares of Cosan by 12.7% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 44,500 shares of the company’s stock worth $225,000 after purchasing an additional 5,000 shares during the last quarter. Virtus Investment Advisers LLC lifted its stake in Cosan by 21.8% in the 2nd quarter. Virtus Investment Advisers LLC now owns 32,492 shares of the company’s stock valued at $164,000 after buying an additional 5,820 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Cosan by 27.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 27,416 shares of the company’s stock valued at $126,000 after buying an additional 5,856 shares during the last quarter. Finally, FORA Capital LLC purchased a new position in Cosan during the first quarter worth $58,000.

Cosan Company Profile

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.