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

Cosan S.A. (NYSE:CSAN)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $5.31, but opened at $5.07. Cosan shares last traded at $5.01, with a volume of 180,114 shares.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CSAN. UBS Group upgraded Cosan to a “strong-buy” rating in a research report on Friday, October 25th. Citigroup reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Cosan in a research note on Monday, December 23rd.

Cosan Trading Down 4.4 %

The company has a 50 day simple moving average of $5.56 and a 200-day simple moving average of $7.70. The company has a quick ratio of 1.73, a current ratio of 1.86 and a debt-to-equity ratio of 1.31.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSAN. Blue Trust Inc. lifted its position in shares of Cosan by 217.1% during the 3rd quarter. Blue Trust Inc. now owns 4,468 shares of the company’s stock valued at $44,000 after buying an additional 3,059 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Cosan by 181.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,790 shares of the company’s stock valued at $53,000 after buying an additional 6,311 shares during the period. US Bancorp DE lifted its holdings in shares of Cosan by 405.1% in the third quarter. US Bancorp DE now owns 5,793 shares of the company’s stock worth $55,000 after buying an additional 4,646 shares in the last quarter. PDS Planning Inc bought a new position in shares of Cosan in the fourth quarter valued at approximately $58,000. Finally, Caprock Group LLC purchased a new position in Cosan during the fourth quarter valued at approximately $61,000.

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.