Cosan (NYSE:CSAN) Trading Down 6.7% – Here’s What Happened

Shares of Cosan S.A. Sponsored ADR (NYSE:CSAN) fell 6.7% during trading on Tuesday . The company traded as low as $3.32 and last traded at $3.2950. 1,666,624 shares were traded during mid-day trading, a decline of 23% from the average session volume of 2,164,630 shares. The stock had previously closed at $3.53.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cosan in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $4.75.

Cosan Price Performance

The company’s 50-day moving average price is $4.05 and its two-hundred day moving average price is $4.36. The company has a market cap of $3.45 billion, a P/E ratio of -1.41 and a beta of 0.82. The company has a current ratio of 1.80, a quick ratio of 1.65 and a debt-to-equity ratio of 2.01.

Cosan (NYSE:CSAN) last released its earnings results on Saturday, February 14th. The company reported ($1.61) earnings per share for the quarter. The company had revenue of $1.74 billion during the quarter. Cosan had a negative return on equity of 13.94% and a negative net margin of 32.24%.

Insider Buying and Selling at Cosan

In other news, insider Maria Rita De Carvalh Drummond sold 37,400 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $5.48, for a total value of $204,952.00. Following the completion of the sale, the insider owned 2,128,536 shares of the company’s stock, valued at approximately $11,664,377.28. The trade was a 1.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 109,400 shares of company stock valued at $602,734.

Institutional Investors Weigh In On Cosan

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its position in shares of Cosan by 3,266.6% in the 1st 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. Barometer Capital Management Inc. boosted its holdings in shares of Cosan by 1,839.0% in the 1st quarter. Barometer Capital Management Inc. now owns 171,600 shares of the company’s stock valued at $707,000 after buying an additional 162,750 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Cosan by 115.3% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 176,680 shares of the company’s stock valued at $728,000 after buying an additional 94,605 shares during the period. SmartHarvest Portfolios LLC acquired a new position in shares of Cosan in the 1st quarter valued at about $46,000. Finally, Blue Trust Inc. boosted its holdings in shares of Cosan by 12,141.9% in the 1st quarter. Blue Trust Inc. now owns 12,854 shares of the company’s stock valued at $53,000 after buying an additional 12,749 shares during the period.

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.