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

Cosan S.A. Sponsored ADR (NYSE:CSAN)’s share price gapped up before the market opened on Monday . The stock had previously closed at $2.82, but opened at $2.94. Cosan shares last traded at $2.8850, with a volume of 179,898 shares.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CSAN shares. Zacks Research raised Cosan to a “hold” rating in a research report on Thursday, June 18th. HSBC downgraded shares of Cosan from a “hold” rating to a “reduce” rating and cut their price objective 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 research report on Tuesday, June 9th. Jefferies Financial Group downgraded shares of Cosan to a “hold” rating in a research note on Tuesday, May 26th. Finally, Citigroup raised Cosan to a “hold” rating in a research report on Monday, June 29th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $3.85.

Cosan Price Performance

The stock’s 50 day simple moving average is $2.91 and its 200-day simple moving average is $3.56. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -1.39 and a beta of 0.71. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.76 and a current ratio of 1.87.

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

Institutional Trading of Cosan

Large investors have recently added to or reduced their stakes in the company. UBS Group AG raised its stake in shares of Cosan by 36.9% in the fourth 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 last quarter. Tejara Capital Ltd purchased a new stake in Cosan in the fourth quarter valued at approximately $1,386,000. Monaco Asset Management SAM increased its holdings in Cosan by 200.5% in the 4th quarter. Monaco Asset Management SAM now owns 3,004,813 shares of the company’s stock worth $11,869,000 after buying an additional 2,004,813 shares during the period. Concurrent Investment Advisors LLC acquired a new position in Cosan in the 4th quarter worth approximately $132,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Cosan during the 4th quarter worth approximately $46,000.

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.