Cosan (NYSE:CSAN) Hits New 12-Month Low - Here's What Happened

Key Points

• Cosan S.A. Sponsored ADR shares reached a new 52-week low of $3.94, down from a closing price of $4.28, indicating significant market volatility with over 1.9 million shares traded.
• The company reported a substantial earnings miss of ($0.65) per share compared to the estimated ($0.01), alongside a revenue of $1.29 billion, falling short of expectations.
• In a recent downgrade, Wall Street Zen has cut Cosan's rating from a "hold" to a "sell", reflecting negative sentiment among analysts.

Cosan S.A. Sponsored ADR (NYSE:CSAN - Get Free Report) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $3.98 and last traded at $3.94, with a volume of 1903400 shares changing hands. The stock had previously closed at $4.28.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Cosan from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th.

Cosan Trading Down 7.4%

The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 3.00, a PEG ratio of 0.14 and a beta of 0.98. The company has a current ratio of 2.13, a quick ratio of 1.98 and a debt-to-equity ratio of 1.88. The firm has a 50-day moving average price of $4.87 and a 200-day moving average price of $5.12.

Cosan (NYSE:CSAN - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.64). The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $7.17 billion. Cosan had a negative net margin of 25.77% and a negative return on equity of 24.39%. As a group, sell-side analysts predict that Cosan S.A. Sponsored ADR will post 0.2 EPS for the current year.

Hedge Funds Weigh In On Cosan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new stake in shares of Cosan during the fourth quarter worth about $27,000. Clear Harbor Asset Management LLC grew its position in Cosan by 12.7% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 44,500 shares of the company's stock worth $225,000 after purchasing an additional 5,000 shares in the last quarter. GAMMA Investing LLC grew its position in Cosan by 799.4% in the 1st quarter. GAMMA Investing LLC now owns 5,747 shares of the company's stock worth $30,000 after purchasing an additional 5,108 shares in the last quarter. Virtus Investment Advisers LLC grew its position in Cosan by 21.8% in the 2nd quarter. Virtus Investment Advisers LLC now owns 32,492 shares of the company's stock worth $164,000 after purchasing an additional 5,820 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Cosan in the 4th quarter worth about $41,000.

About Cosan

Cosan SA engages in the fuel distribution business. It operates through Raízen, Compass, Moove, Rumo, and Radar segments. The company's Raízen segment engages in the production, commercialization, origination, and trading of ethanol, bioenergy, renewable sources, and sugar; trading and resale of electricity; and distribution and commercialization of fuels and lubricants.

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