Short Interest in Cosan S.A. Sponsored ADR (NYSE:CSAN) Grows By 55.0%

Cosan S.A. Sponsored ADR (NYSE:CSAN) saw a large increase in short interest in August. As of August 14th, there was short interest totaling 3,725,855 shares, an increase of 55.0% from the July 30th total of 2,404,315 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 1,301,987 shares, the days-to-cover ratio is presently 2.9 days.

Hedge Funds Weigh In On Cosan

Institutional investors and hedge funds have recently modified their holdings of the company. Monaco Asset Management SAM boosted its position in shares of Cosan by 200.5% in the fourth quarter. Monaco Asset Management SAM now owns 3,004,813 shares of the company’s stock worth $11,869,000 after acquiring an additional 2,004,813 shares during the last quarter. UBS Group AG lifted its position in Cosan by 36.9% during the 4th quarter. UBS Group AG now owns 3,492,792 shares of the company’s stock worth $13,797,000 after acquiring an additional 941,548 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Cosan by 5,210.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 776,592 shares of the company’s stock valued at $3,068,000 after purchasing an additional 761,968 shares during the period. XTX Topco Ltd grew its stake in shares of Cosan by 1,312.8% during the fourth quarter. XTX Topco Ltd now owns 588,722 shares of the company’s stock valued at $2,325,000 after acquiring an additional 547,051 shares in the last quarter. Finally, Tejara Capital Ltd purchased a new stake in Cosan during the 4th quarter worth approximately $1,386,000.

Cosan Stock Performance

Shares of NYSE CSAN traded down $0.04 during mid-day trading on Wednesday, hitting $2.96. 488,458 shares of the company were exchanged, compared to its average volume of 2,100,478. The stock has a 50 day simple moving average of $2.91 and a 200-day simple moving average of $3.56. Cosan has a 1-year low of $2.38 and a 1-year high of $6.01. 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 firm has a market cap of $2.93 billion, a price-to-earnings ratio of -1.36 and a beta of 0.71.

Cosan (NYSE:CSAN) last released its quarterly earnings data on Saturday, August 15th. The company reported ($0.06) earnings per share (EPS) 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, sell-side analysts forecast that Cosan will post -0.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CSAN. Zacks Research raised Cosan to a “hold” rating in a research report on Thursday, June 18th. Jefferies Financial Group downgraded Cosan to a “hold” rating in a research report on Tuesday, May 26th. HSBC cut shares of Cosan from a “hold” rating to a “reduce” rating and reduced their target price for the company from $5.00 to $3.20 in a report on Tuesday, May 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cosan in a research note on Tuesday, June 9th. Finally, Citigroup upgraded shares of Cosan to a “hold” rating in a report on Monday, June 29th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $3.85.

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.