Cosan (NYSE:CSAN) Shares Gap Up – Here’s Why

Cosan S.A. Sponsored ADR (NYSE:CSAN) gapped up before the market opened on Monday . The stock had previously closed at $4.42, but opened at $4.63. Cosan shares last traded at $4.6050, with a volume of 1,960,534 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. The Goldman Sachs Group reduced their price objective on Cosan from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Monday, December 1st. HSBC set a $5.00 price target on Cosan in a report on Friday, December 5th. Wall Street Zen cut shares of Cosan from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Cosan in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $4.75.

Cosan Stock Up 5.8%

The firm has a fifty day moving average of $4.28 and a 200 day moving average of $4.50. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.80 and a quick ratio of 1.65.

Cosan (NYSE:CSAN) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.49). Cosan had a negative net margin of 32.24% and a negative return on equity of 36.85%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $7.09 billion. On average, sell-side analysts expect that Cosan S.A. Sponsored ADR will post 0.2 EPS for the current year.

Hedge Funds Weigh In On Cosan

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kapitalo Investimentos Ltda increased its position in Cosan by 280.1% during the third quarter. Kapitalo Investimentos Ltda now owns 418,432 shares of the company’s stock valued at $1,925,000 after acquiring an additional 308,340 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Cosan in the second quarter worth about $480,000. Acadian Asset Management LLC bought a new stake in shares of Cosan during the 2nd quarter valued at about $3,049,000. Vise Technologies Inc. purchased a new stake in shares of Cosan during the 2nd quarter valued at about $144,000. Finally, Savant Capital LLC bought a new position in shares of Cosan in the 2nd quarter worth approximately $77,000.

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.