Cosan (NYSE:CSAN) Sets New 52-Week Low – Here’s Why

Cosan S.A. Sponsored ADR (NYSE:CSAN) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $2.41 and last traded at $2.49, with a volume of 4128575 shares changing hands. The stock had previously closed at $2.52.

Wall Street Analysts Forecast Growth

CSAN has been the topic of a number of research reports. Zacks Research upgraded Cosan to a “hold” rating in a report on Thursday, June 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cosan in a report on Tuesday, June 9th. Jefferies Financial Group lowered Cosan to a “hold” rating in a research report on Tuesday, May 26th. Citigroup upgraded Cosan to a “hold” rating in a research note on Monday, June 29th. Finally, HSBC downgraded 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. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $3.85.

Cosan Stock Down 1.2%

The firm’s 50-day simple moving average is $2.90 and its 200 day simple moving average is $3.70. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.76 and a current ratio of 1.87. The stock has a market capitalization of $2.47 billion, a P/E ratio of -1.01 and a beta of 0.70.

Insider Activity

In related news, Director Rubens Ometto Silveira Mello sold 77,640 shares of Cosan stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $3.44, for a total value of $267,081.60. The transaction was disclosed in a filing with the SEC, which is available at this link.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. UBS Group AG grew its stake in Cosan by 36.9% in the fourth quarter. UBS Group AG now owns 3,492,792 shares of the company’s stock valued at $13,797,000 after purchasing an additional 941,548 shares in the last quarter. Tejara Capital Ltd bought a new stake in shares of Cosan during the 4th quarter worth approximately $1,386,000. Monaco Asset Management SAM boosted its holdings in shares of Cosan by 200.5% in the 4th quarter. Monaco Asset Management SAM now owns 3,004,813 shares of the company’s stock valued at $11,869,000 after buying an additional 2,004,813 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Cosan in the 4th quarter valued at approximately $132,000. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of Cosan in the fourth quarter valued at $257,000.

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.