Cosan (NYSE:CSAN) Sets New 52-Week Low - Here's Why

Key Points

• Cosan shares hit a new 52-week low, falling to $2.41 before recovering slightly to $2.49, amid a broader downtrend below the stock’s 50-day and 200-day moving averages.
• Analyst sentiment is weak: the stock has a consensus rating of “Reduce”, with four Hold ratings and two Sell ratings. HSBC also cut its price target from $5.00 to $3.20, below the current consensus target of $3.85.
• Cosan’s financial profile includes elevated leverage, with a debt-to-equity ratio of 2.12, while a company director sold 77,640 shares at an average price of $3.44 in May.

Cosan S.A. Sponsored ADR (NYSE:CSAN - Get Free Report) reached a new 52-week low during trading on Tuesday . The company traded as low as $2.41 and last traded at $2.49, with a volume of 4128575 shares changing hands. The stock had previously closed at $2.52.

Analyst Ratings Changes

Several research firms have weighed in on CSAN. Jefferies Financial Group lowered Cosan to a "hold" rating in a research note on Tuesday, May 26th. Zacks Research upgraded Cosan to a "hold" rating in a research report on Thursday, June 18th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Cosan in a research note on Tuesday, June 9th. Citigroup upgraded shares of Cosan to a "hold" rating in a research report on Monday, June 29th. Finally, HSBC lowered shares of Cosan from a "hold" rating to a "reduce" rating and reduced their price objective for the stock from $5.00 to $3.20 in a research note on Tuesday, May 26th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $3.85.

Cosan Trading Down 1.2%

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 stock has a market capitalization of $2.47 billion, a P/E ratio of -1.01 and a beta of 0.70. The company has a fifty day simple moving average of $2.90 and a two-hundred day simple moving average of $3.70.

Insider Activity

In related news, Director Rubens Ometto Silveira Mello sold 77,640 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $3.44, for a total value of $267,081.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of Cosan

Several hedge funds have recently bought and sold shares of CSAN. Verus Capital Partners LLC lifted its stake in Cosan by 20.0% in the fourth quarter. Verus Capital Partners LLC now owns 18,000 shares of the company's stock valued at $71,000 after buying an additional 3,000 shares in the last quarter. Jane Street Group LLC increased its position in shares of Cosan by 4.2% during the second quarter. Jane Street Group LLC now owns 95,992 shares of the company's stock worth $485,000 after acquiring an additional 3,866 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cosan by 40.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,753 shares of the company's stock worth $58,000 after acquiring an additional 4,255 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Cosan by 27.2% during the third quarter. Russell Investments Group Ltd. now owns 27,416 shares of the company's stock worth $126,000 after acquiring an additional 5,856 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Cosan by 4.1% during the first quarter. SG Americas Securities LLC now owns 196,491 shares of the company's stock worth $810,000 after acquiring an additional 7,739 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.

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