Cosan (NYSE:CSAN) Shares Gap Down – Here’s Why

Cosan S.A. (NYSE:CSAN) gapped down prior to trading on Thursday . The stock had previously closed at $5.44, but opened at $5.28. Cosan shares last traded at $5.34, with a volume of 452,608 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group raised shares of Cosan to a “strong-buy” rating in a report on Friday, October 25th. Citigroup reaffirmed a “buy” rating and issued a $19.00 price target on shares of Cosan in a report on Monday, December 23rd.

Cosan Stock Performance

The stock has a market capitalization of $2.44 billion, a P/E ratio of 4.02, a PEG ratio of 6.63 and a beta of 1.35. The company has a quick ratio of 1.73, a current ratio of 1.86 and a debt-to-equity ratio of 1.31. The company has a 50-day moving average price of $6.85 and a two-hundred day moving average price of $8.58.

Institutional Trading of Cosan

Hedge funds and other institutional investors have recently bought and sold shares of the company. Redwood Wealth Management Group LLC purchased a new position in Cosan during the second quarter worth about $26,000. Dimensional Fund Advisors LP boosted its position in shares of Cosan by 339.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 114,002 shares of the company’s stock valued at $1,110,000 after acquiring an additional 88,064 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Cosan by 2.1% during the second quarter. Renaissance Technologies LLC now owns 4,820,882 shares of the company’s stock worth $46,955,000 after purchasing an additional 100,700 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Cosan in the second quarter worth approximately $115,000. Finally, Herr Investment Group LLC purchased a new stake in Cosan in the second quarter valued at approximately $2,192,000.

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.