Cosan (NYSE:CSAN) Raised to Hold at Citigroup

Cosan (NYSE:CSAN) was upgraded by investment analysts at Citigroup to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

CSAN has been the subject of several other reports. Jefferies Financial Group lowered shares of Cosan to a “hold” rating in a report on Tuesday, May 26th. HSBC cut shares of Cosan from a “hold” rating to a “reduce” rating and reduced their price target for the stock from $5.00 to $3.20 in a research report on Tuesday, May 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cosan in a report on Tuesday, June 9th. Finally, Zacks Research upgraded Cosan to a “hold” rating in a research note on Thursday, June 18th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $3.85.

Cosan Trading Up 0.9%

CSAN opened at $2.88 on Monday. The stock has a market capitalization of $2.85 billion, a PE ratio of -1.17 and a beta of 0.74. The firm’s fifty day moving average price is $3.34 and its 200 day moving average price is $3.97. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.87 and a quick ratio of 1.76. Cosan has a 12-month low of $2.52 and a 12-month high of $6.01.

Insiders Place Their Bets

In other news, insider Maria Rita De Carvalh Drummond sold 37,400 shares of Cosan stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $5.48, for a total value of $204,952.00. Following the completion of the transaction, the insider directly owned 2,128,536 shares of the company’s stock, valued at approximately $11,664,377.28. The trade was a 1.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rubens Ometto Silveira Mello sold 77,640 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $3.44, for a total transaction of $267,081.60. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 187,040 shares of company stock valued at $869,816.

Hedge Funds Weigh In On Cosan

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Monaco Asset Management SAM boosted its stake in Cosan by 200.5% in the fourth quarter. Monaco Asset Management SAM now owns 3,004,813 shares of the company’s stock valued at $11,869,000 after acquiring an additional 2,004,813 shares during the period. UBS Group AG raised its position in shares of Cosan by 36.9% during the 4th quarter. UBS Group AG now owns 3,492,792 shares of the company’s stock worth $13,797,000 after purchasing an additional 941,548 shares during the period. Balyasny Asset Management L.P. raised its position in shares of Cosan by 5,210.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 776,592 shares of the company’s stock worth $3,068,000 after purchasing an additional 761,968 shares during the period. XTX Topco Ltd lifted its holdings in shares of Cosan by 1,312.8% in the 4th quarter. XTX Topco Ltd now owns 588,722 shares of the company’s stock worth $2,325,000 after purchasing an additional 547,051 shares during the last quarter. Finally, Tejara Capital Ltd acquired a new stake in Cosan in the fourth quarter worth $1,386,000.

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.