Cosan S.A. Sponsored ADR (NYSE:CSAN) Short Interest Up 66.7% in May

Cosan S.A. Sponsored ADR (NYSE:CSAN) saw a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 3,177,008 shares, a growth of 66.7% from the May 14th total of 1,905,740 shares. Based on an average daily volume of 2,918,419 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.3% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

CSAN has been the subject of a number of research analyst reports. Jefferies Financial Group cut shares of Cosan to a “hold” rating in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cosan in a research report on Tuesday, June 9th. Finally, HSBC cut shares of Cosan from a “hold” rating to a “reduce” rating and lowered their price objective for the stock from $5.00 to $3.20 in a research report on Tuesday, May 26th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Cosan has an average rating of “Reduce” and an average target price of $3.85.

Insider Buying and Selling at Cosan

In other Cosan news, Director Rubens Ometto Silveira Mello sold 77,640 shares of Cosan stock in a transaction on 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. Also, CEO Marcelo Eduardo Martins acquired 2,441,528 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average cost of $5.14 per share, with a total value of $12,549,453.92. Following the transaction, the chief executive officer directly owned 4,890,286 shares in the company, valued at $25,136,070.04. This trade represents a 99.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 187,040 shares of company stock worth $869,816 over the last quarter.

Institutional Investors Weigh In On Cosan

A number of hedge funds have recently added to or reduced their stakes in CSAN. Verus Capital Partners LLC raised its holdings in shares of Cosan by 20.0% in the 4th quarter. Verus Capital Partners LLC now owns 18,000 shares of the company’s stock valued at $71,000 after purchasing an additional 3,000 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Cosan by 4.2% in the 2nd quarter. Jane Street Group LLC now owns 95,992 shares of the company’s stock valued at $485,000 after purchasing an additional 3,866 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cosan by 40.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,753 shares of the company’s stock valued at $58,000 after purchasing an additional 4,255 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Cosan by 27.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 27,416 shares of the company’s stock valued at $126,000 after purchasing an additional 5,856 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Cosan by 4.1% in the 1st quarter. SG Americas Securities LLC now owns 196,491 shares of the company’s stock valued at $810,000 after purchasing an additional 7,739 shares in the last quarter.

Cosan Stock Down 1.3%

Cosan stock traded down $0.04 during mid-day trading on Tuesday, reaching $2.59. 961,236 shares of the company’s stock were exchanged, compared to its average volume of 2,820,883. The company has a market cap of $2.56 billion, a P/E ratio of -1.05 and a beta of 0.74. Cosan has a twelve month low of $2.52 and a twelve month high of $6.15. The company has a quick ratio of 1.76, a current ratio of 1.87 and a debt-to-equity ratio of 2.12. The company has a fifty day moving average of $3.62 and a 200-day moving average of $4.12.

Cosan (NYSE:CSAN) last released its earnings results on Saturday, February 14th. The company reported ($1.61) earnings per share (EPS) for the quarter. The business had revenue of $1.74 billion for the quarter. Cosan had a negative return on equity of 14.30% and a negative net margin of 24.09%.

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.