Cosan (NYSE:CSAN) Shares Up 8.3% – Time to Buy?

Cosan S.A. Sponsored ADR (NYSE:CSAN) traded up 8.3% during trading on Friday . The company traded as high as $2.77 and last traded at $2.75. 1,027,612 shares changed hands during trading, a decline of 50% from the average session volume of 2,066,145 shares. The stock had previously closed at $2.54.

Analyst Upgrades and Downgrades

CSAN has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Cosan in a report on Tuesday, June 9th. HSBC downgraded shares of Cosan from a “hold” rating to a “reduce” rating and lowered their target price for the company from $5.00 to $3.20 in a research note on Tuesday, May 26th. Citigroup upgraded shares of Cosan to a “hold” rating in a research report on Monday, June 29th. Zacks Research raised shares of Cosan to a “hold” rating in a research note on Thursday, June 18th. Finally, Jefferies Financial Group lowered shares of Cosan to a “hold” rating in a report on Tuesday, May 26th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Cosan has a consensus rating of “Reduce” and an average price target of $3.85.

Cosan Price Performance

The company has a market cap of $2.74 billion, a PE ratio of -1.28 and a beta of 0.70. The firm’s 50-day moving average is $2.89 and its 200-day moving average is $3.65. The company has a quick ratio of 1.76, a current ratio of 1.87 and a debt-to-equity ratio of 2.12.

Cosan (NYSE:CSAN) last posted its quarterly earnings results on Saturday, August 15th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $996.01 million. Cosan had a negative return on equity of 12.58% and a negative net margin of 21.83%. On average, equities analysts anticipate that Cosan S.A. Sponsored ADR will post -0.27 EPS for the current year.

Institutional Trading of Cosan

Large investors have recently made changes to their positions in the stock. SmartHarvest Portfolios LLC purchased a new position in shares of Cosan during the first quarter valued at approximately $46,000. Caitong International Asset Management Co. Ltd purchased a new stake in Cosan in the fourth quarter worth approximately $46,000. Royal Bank of Canada boosted its holdings in Cosan by 3,266.6% in the first quarter. Royal Bank of Canada now owns 12,389 shares of the company’s stock worth $51,000 after purchasing an additional 12,021 shares during the last quarter. Blue Trust Inc. grew its position in Cosan by 12,141.9% in the 1st quarter. Blue Trust Inc. now owns 12,854 shares of the company’s stock worth $53,000 after purchasing an additional 12,749 shares during the period. Finally, Clear Harbor Asset Management LLC bought a new stake in Cosan in the 4th quarter worth approximately $53,000.

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.