Cosan S.A. Sponsored ADR (NYSE:CSAN) Sees Large Decline in Short Interest

Cosan S.A. Sponsored ADR (NYSE:CSAN) was the recipient of a significant decline in short interest in July. As of July 15th, there was short interest totaling 2,234,518 shares, a decline of 45.6% from the June 30th total of 4,109,799 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 1,027,373 shares, the days-to-cover ratio is currently 2.2 days.

Analysts Set New Price Targets

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

Cosan Trading Up 1.7%

CSAN traded up $0.06 during trading on Friday, hitting $3.21. The company’s stock had a trading volume of 1,843,048 shares, compared to its average volume of 871,696. The company has a quick ratio of 1.76, a current ratio of 1.87 and a debt-to-equity ratio of 2.12. Cosan has a twelve month low of $2.52 and a twelve month high of $6.01. The stock’s fifty day moving average price is $2.95 and its 200-day moving average price is $3.80. The firm has a market capitalization of $3.19 billion, a P/E ratio of -1.31 and a beta of 0.72.

Insider Activity

In other news, CEO Marcelo Eduardo Martins bought 2,441,528 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $5.14 per share, for a total transaction of $12,549,453.92. Following the completion of the transaction, the chief executive officer owned 4,890,286 shares of the company’s stock, valued at $25,136,070.04. This trade represents a 99.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rubens Ometto Silveira Mello sold 77,640 shares of Cosan stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $3.44, for a total value of $267,081.60. The SEC filing for this sale provides additional information.

Hedge Funds Weigh In On Cosan

A number of large investors have recently modified their holdings of the company. SmartHarvest Portfolios LLC bought a new position in Cosan in the 1st quarter valued at about $46,000. Caitong International Asset Management Co. Ltd purchased a new stake in Cosan in the 4th quarter valued at $46,000. Royal Bank of Canada raised its position in Cosan by 3,266.6% in the 1st quarter. Royal Bank of Canada now owns 12,389 shares of the company’s stock valued at $51,000 after buying an additional 12,021 shares during the last quarter. Clear Harbor Asset Management LLC bought a new position in Cosan during the 4th quarter valued at $53,000. Finally, Blue Trust Inc. grew its stake 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 worth $53,000 after acquiring an additional 12,749 shares in the last quarter.

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.