Cosan (NYSE:CSAN) Trading Up 6.2% - Here's What Happened

Key Points

• Shares of Cosan S.A. Sponsored ADR (CSAN) rose by 6.2%, reaching a last traded price of $4.87 amid a significant increase in trading volume.
• Goldman Sachs lowered its price target on Cosan to $5.00 while maintaining a "neutral" rating, whereas Zacks Research downgraded it to a "hold."
• Cosan reported a net loss of ($0.36) earnings per share in its most recent quarterly earnings, with actual revenue of $1.23 billion falling short of analyst estimates attributed to a negative net margin of 28.08%.

Shares of Cosan S.A. Sponsored ADR (NYSE:CSAN - Get Free Report) shot up 6.2% during mid-day trading on Wednesday . The stock traded as high as $4.88 and last traded at $4.87. 3,017,066 shares changed hands during mid-day trading, an increase of 123% from the average session volume of 1,352,552 shares. The stock had previously closed at $4.58.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CSAN. The Goldman Sachs Group lowered their price objective on shares of Cosan from $6.60 to $5.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 27th. Zacks Research downgraded shares of Cosan from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, Wall Street Zen raised shares of Cosan from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.00.

Cosan Trading Up 6.4%

The business has a fifty day moving average price of $4.41 and a 200 day moving average price of $5.01. The company has a market capitalization of $2.28 billion, a PE ratio of 3.69, a P/E/G ratio of 0.13 and a beta of 1.05. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.98 and a current ratio of 2.13.

Cosan (NYSE:CSAN - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.36) earnings per share for the quarter. Cosan had a negative net margin of 28.08% and a negative return on equity of 27.61%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $7.12 billion. Analysts expect that Cosan S.A. Sponsored ADR will post 0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new position in Cosan during the fourth quarter valued at about $27,000. GAMMA Investing LLC boosted its holdings in shares of Cosan by 799.4% in the first quarter. GAMMA Investing LLC now owns 5,747 shares of the company's stock worth $30,000 after buying an additional 5,108 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Cosan in the fourth quarter worth approximately $41,000. Invesco Ltd. acquired a new stake in shares of Cosan during the fourth quarter valued at approximately $58,000. Finally, FORA Capital LLC acquired a new position in Cosan in the 1st quarter worth approximately $58,000.

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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