Cosan (NYSE:CSAN) Shares Gap Down - Here's Why

Cosan S.A. (NYSE:CSAN - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $5.81, but opened at $5.66. Cosan shares last traded at $5.71, with a volume of 94,429 shares trading hands.

Wall Street Analysts Forecast Growth

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

Cosan Trading Down 2.7%

The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.73 and a current ratio of 1.86. The company's 50 day moving average is $5.28 and its 200 day moving average is $5.55. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 4.41, a PEG ratio of 3.94 and a beta of 1.13.

Cosan (NYSE:CSAN - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.64). The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $7.17 billion. On average, research analysts forecast that Cosan S.A. will post 0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Cosan

Large investors have recently modified their holdings of the business. Itau Unibanco Holding S.A. boosted its stake in shares of Cosan by 28.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,452,659 shares of the company's stock worth $7,670,000 after buying an additional 320,000 shares during the last quarter. Martin Currie Ltd. increased its holdings in shares of Cosan by 20.1% during the first quarter. Martin Currie Ltd. now owns 1,439,121 shares of the company's stock worth $7,512,000 after purchasing an additional 240,613 shares during the period. Moon Capital Management LP raised its stake in Cosan by 32.5% in the fourth quarter. Moon Capital Management LP now owns 1,217,023 shares of the company's stock valued at $6,621,000 after purchasing an additional 298,593 shares in the last quarter. Citadel Advisors LLC increased its stake in Cosan by 1,204.6% in the fourth quarter. Citadel Advisors LLC now owns 498,181 shares of the company's stock valued at $2,710,000 after acquiring an additional 459,995 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Cosan by 826.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 441,414 shares of the company's stock worth $2,401,000 after buying an additional 393,784 shares during the last quarter.

Cosan Company Profile

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.