Cosan S.A. Sponsored ADR (NYSE:CSAN) Short Interest Down 45.6% in July

Key Points

• Cosan’s short interest fell 45.6% to 2.23 million shares as of July 15, representing 0.2% of shares outstanding and a short-interest ratio of 2.2 days.
• CEO Marcelo Eduardo Martins purchased 2.44 million shares worth approximately $12.5 million, nearly doubling his stake, while director Rubens Ometto Silveira Mello sold 77,640 shares for about $267,000.
• Analyst sentiment remains cautious, with four Hold ratings and two Sell ratings producing a consensus “Reduce” rating and an average price target of $3.85. CSAN recently traded at $3.06, down 1.4%.

Cosan S.A. Sponsored ADR (NYSE:CSAN - Get Free Report) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 2,234,518 shares, a decline of 45.6% from the June 30th total of 4,109,799 shares. Currently, 0.2% of the company's shares are short sold. Based on an average daily volume of 1,027,373 shares, the short-interest ratio is presently 2.2 days.

Insider Buying and Selling at Cosan

In related news, CEO Marcelo Eduardo Martins purchased 2,441,528 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of $5.14 per share, with a total value of $12,549,453.92. Following the purchase, the chief executive officer owned 4,890,286 shares of the company's stock, valued at $25,136,070.04. This trade represents a 99.70% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rubens Ometto Silveira Mello sold 77,640 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $3.44, for a total value of $267,081.60. The SEC filing for this sale provides additional information.

Hedge Funds Weigh In On Cosan

A number of hedge funds have recently added to or reduced their stakes in CSAN. SmartHarvest Portfolios LLC acquired a new position in Cosan in the 1st quarter valued at $46,000. Caitong International Asset Management Co. Ltd acquired a new position in Cosan during the 4th quarter worth $46,000. Royal Bank of Canada boosted its holdings in Cosan by 3,266.6% during the first quarter. Royal Bank of Canada now owns 12,389 shares of the company's stock valued at $51,000 after acquiring an additional 12,021 shares during the period. Clear Harbor Asset Management LLC bought a new stake in Cosan during the fourth quarter valued at about $53,000. Finally, Blue Trust Inc. grew its position in shares of Cosan by 12,141.9% in the first quarter. Blue Trust Inc. now owns 12,854 shares of the company's stock valued at $53,000 after purchasing an additional 12,749 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Cosan Stock Down 1.4%

CSAN stock traded down $0.04 during mid-day trading on Wednesday, hitting $3.06. The stock had a trading volume of 1,045,669 shares, compared to its average volume of 2,074,877. Cosan has a 1-year low of $2.52 and a 1-year high of $6.01. The company has a fifty day moving average of $2.97 and a 200 day moving average of $3.82. The company has a current ratio of 1.87, a quick ratio of 1.76 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -1.25 and a beta of 0.72.

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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