Cosan (NYSE:CSAN) Shares Gap Down Following Weak Earnings

Shares of Cosan S.A. (NYSE:CSAN) gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $5.44, but opened at $5.30. Cosan shares last traded at $5.20, with a volume of 279,062 shares traded.

The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.64). The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $7.17 billion.

Institutional Investors Weigh In On Cosan

Hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC increased its stake in shares of Cosan by 1,204.6% in the fourth quarter. Citadel Advisors LLC now owns 498,181 shares of the company’s stock worth $2,710,000 after purchasing an additional 459,995 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Cosan by 826.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 441,414 shares of the company’s stock worth $2,401,000 after acquiring an additional 393,784 shares during the period. Itau Unibanco Holding S.A. increased its stake in shares of Cosan by 28.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,452,659 shares of the company’s stock worth $7,670,000 after acquiring an additional 320,000 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Cosan by 3,995.3% in the first quarter. Cubist Systematic Strategies LLC now owns 306,859 shares of the company’s stock worth $1,602,000 after acquiring an additional 299,366 shares during the last quarter. Finally, Moon Capital Management LP raised its holdings in Cosan by 32.5% in the 4th quarter. Moon Capital Management LP now owns 1,217,023 shares of the company’s stock worth $6,621,000 after acquiring an additional 298,593 shares during the last quarter.

Cosan Price Performance

The firm’s fifty day moving average price is $5.22 and its two-hundred day moving average price is $5.72. The stock has a market capitalization of $2.49 billion, a PE ratio of 4.04, a PEG ratio of 3.94 and a beta of 1.13. The company has a quick ratio of 1.73, a current ratio of 1.86 and a debt-to-equity ratio of 1.31.

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.