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

Cosan S.A. (NYSE:CSAN)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $5.85, but opened at $5.64. Cosan shares last traded at $5.58, with a volume of 138,145 shares traded.

Wall Street Analysts Forecast Growth

Separately, UBS Group raised Cosan to a “strong-buy” rating in a research note on Friday, October 25th.

Cosan Trading Down 7.0 %

The company has a market capitalization of $2.54 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 6.63 and a beta of 1.35. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.86 and a quick ratio of 1.73. The company has a fifty day simple moving average of $7.63 and a two-hundred day simple moving average of $8.95.

Institutional Trading of Cosan

Several institutional investors have recently made changes to their positions in CSAN. Signaturefd LLC lifted its position in Cosan by 2,736.9% during the 2nd quarter. Signaturefd LLC now owns 11,915 shares of the company’s stock valued at $116,000 after purchasing an additional 11,495 shares during the period. Redwood Wealth Management Group LLC bought a new position in Cosan in the second quarter valued at approximately $26,000. Dimensional Fund Advisors LP increased its holdings in Cosan by 339.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 114,002 shares of the company’s stock worth $1,110,000 after purchasing an additional 88,064 shares in the last quarter. Renaissance Technologies LLC boosted its position 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 buying an additional 100,700 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Cosan during the 2nd quarter worth approximately $115,000.

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.