Cosan (NYSE:CSAN) Trading Up 6.5% - Here's Why

Key Points

• Cosan S.A. Sponsored ADR's share price increased by 6.5% during mid-day trading, reaching as high as $4.30, up from a previous close of $4.05.
• Wall Street Zen downgraded Cosan's rating from "hold" to "sell" in a recent research note, reflecting concerns about the company's financial performance.
• The company reported a negative net margin of 28.08% and a negative return on equity of 27.61% in its latest quarterly earnings report.

Cosan S.A. Sponsored ADR (NYSE:CSAN - Get Free Report)'s share price shot up 6.5% during mid-day trading on Monday . The stock traded as high as $4.30 and last traded at $4.31. 552,411 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 1,336,551 shares. The stock had previously closed at $4.05.

Analyst Ratings Changes

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

Cosan Stock Up 4.3%

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 company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 3.20, a price-to-earnings-growth ratio of 0.13 and a beta of 0.98. The firm's 50 day moving average price is $4.80 and its two-hundred day moving average price is $5.10.

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

Institutional Trading of Cosan

A number of hedge funds have recently modified their holdings of the stock. Jane Street Group LLC lifted its holdings in Cosan by 4.2% during the 2nd quarter. Jane Street Group LLC now owns 95,992 shares of the company's stock worth $485,000 after purchasing an additional 3,866 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Cosan during the fourth quarter worth $27,000. Clear Harbor Asset Management LLC boosted its stake in Cosan by 12.7% in the second quarter. Clear Harbor Asset Management LLC now owns 44,500 shares of the company's stock valued at $225,000 after buying an additional 5,000 shares in the last quarter. GAMMA Investing LLC grew its position in Cosan by 799.4% in the first quarter. GAMMA Investing LLC now owns 5,747 shares of the company's stock valued at $30,000 after acquiring an additional 5,108 shares during the last quarter. Finally, Virtus Investment Advisers LLC raised its stake in Cosan by 21.8% during the second quarter. Virtus Investment Advisers LLC now owns 32,492 shares of the company's stock worth $164,000 after acquiring an additional 5,820 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.