Cosan S.A. Sponsored ADR (NYSE:CSAN) Short Interest Update

Key Points

• Cosan’s short interest rose 55% to 3.73 million shares as of August 14, representing about 0.4% of shares outstanding and a 2.9-day short-interest ratio.
• Analyst sentiment remains cautious: four analysts rate the stock Hold and two rate it Sell, producing a consensus “Reduce” rating and a $3.85 price target.
• CSAN opened at $2.95, near its 12-month low range, after reporting a quarterly loss of $0.06 per share versus expectations for a $0.01 profit; the company posted a negative net margin of 21.83%.

Cosan S.A. Sponsored ADR (NYSE:CSAN - Get Free Report) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 3,725,855 shares, a growth of 55.0% from the July 30th total of 2,404,315 shares. Based on an average daily volume of 1,301,987 shares, the days-to-cover ratio is currently 2.9 days. Approximately 0.4% of the shares of the company are sold short.

Institutional Investors Weigh In On Cosan

A number of hedge funds and other institutional investors have recently bought and sold shares of CSAN. UBS Group AG boosted its position in shares of Cosan by 36.9% during the 4th quarter. UBS Group AG now owns 3,492,792 shares of the company's stock worth $13,797,000 after purchasing an additional 941,548 shares in the last quarter. Monaco Asset Management SAM increased its holdings in shares of Cosan by 200.5% in the 4th quarter. Monaco Asset Management SAM now owns 3,004,813 shares of the company's stock valued at $11,869,000 after purchasing an additional 2,004,813 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Cosan by 5,210.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 776,592 shares of the company's stock valued at $3,068,000 after purchasing an additional 761,968 shares during the period. XTX Topco Ltd lifted its stake in shares of Cosan by 1,312.8% in the fourth quarter. XTX Topco Ltd now owns 588,722 shares of the company's stock valued at $2,325,000 after purchasing an additional 547,051 shares during the period. Finally, Millennium Management LLC boosted its holdings in Cosan by 235.0% during the third quarter. Millennium Management LLC now owns 487,514 shares of the company's stock worth $2,243,000 after buying an additional 341,973 shares in the last quarter.

Analysts Set New Price Targets

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

Cosan Stock Performance

NYSE CSAN opened at $2.95 on Tuesday. 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 business's 50 day moving average is $2.91 and its two-hundred day moving average is $3.57. Cosan has a 12-month low of $2.38 and a 12-month high of $6.01. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -1.37 and a beta of 0.70.

Cosan (NYSE:CSAN - Get Free Report) last posted its quarterly earnings results on Saturday, August 15th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). Cosan had a negative net margin of 21.83% and a negative return on equity of 12.58%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $996.01 million. Research analysts expect that Cosan will post -0.27 EPS for the current year.

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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