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

Cosan S.A. (NYSE:CSAN)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $5.76, but opened at $6.00. Cosan shares last traded at $5.86, with a volume of 152,028 shares trading hands.

Analysts Set New Price Targets

CSAN has been the topic of several recent research reports. UBS Group upgraded Cosan to a “strong-buy” rating in a report on Friday, October 25th. Citigroup restated a “buy” rating and set a $19.00 target price on shares of Cosan in a research note on Monday, December 23rd.

Cosan Price Performance

The business’s 50 day moving average is $6.40 and its 200 day moving average is $8.35. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.73 and a current ratio of 1.86.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in shares of Cosan by 339.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 114,002 shares of the company’s stock valued at $1,110,000 after buying an additional 88,064 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Cosan by 2.1% in the 2nd quarter. Renaissance Technologies LLC now owns 4,820,882 shares of the company’s stock valued at $46,955,000 after purchasing an additional 100,700 shares in the last quarter. XTX Topco Ltd acquired a new position in Cosan during the second quarter worth about $115,000. Herr Investment Group LLC acquired a new stake in shares of Cosan during the 2nd quarter valued at approximately $2,192,000. Finally, Creative Planning increased its stake in Cosan by 187.1% in the 2nd quarter. Creative Planning now owns 55,071 shares of the company’s stock valued at $536,000 after purchasing an additional 35,892 shares in the last quarter.

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.