Cosan Ltd (NYSE:CZZ) was the target of a large growth in short interest in July. As of July 15th, there was short interest totalling 3,250,000 shares, a growth of 36.6% from the June 30th total of 2,380,000 shares. Based on an average trading volume of 1,180,000 shares, the short-interest ratio is presently 2.8 days. Approximately 3.1% of the company’s shares are short sold.
A number of brokerages have commented on CZZ. JPMorgan Chase & Co. downgraded shares of Cosan from an “overweight” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research note on Tuesday, July 7th. TheStreet upgraded shares of Cosan from a “c+” rating to a “b-” rating in a research note on Wednesday, July 8th. Goldman Sachs Group downgraded shares of Cosan from a “buy” rating to a “neutral” rating and set a $12.40 target price on the stock. in a research note on Wednesday, May 20th. Finally, HSBC upgraded shares of Cosan to a “buy” rating and set a $20.30 target price on the stock in a research note on Tuesday, July 7th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Cosan has a consensus rating of “Hold” and a consensus price target of $18.34.
Shares of CZZ traded down $0.23 during mid-day trading on Friday, hitting $20.20. The company’s stock had a trading volume of 2,162,767 shares, compared to its average volume of 1,596,283. The company’s 50-day moving average is $16.52 and its 200-day moving average is $16.06. Cosan has a 52-week low of $8.56 and a 52-week high of $23.70. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.54 and a beta of 1.39. The company has a current ratio of 1.84, a quick ratio of 1.73 and a debt-to-equity ratio of 2.40.
Institutional investors and hedge funds have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Cosan by 34,460.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,728 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 1,723 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Cosan in the 1st quarter worth approximately $31,000. Pacitti Group Inc. lifted its position in Cosan by 71.6% during the first quarter. Pacitti Group Inc. now owns 8,637 shares of the basic materials company’s stock valued at $106,000 after acquiring an additional 3,603 shares during the last quarter. Jane Street Group LLC purchased a new stake in Cosan during the first quarter valued at approximately $140,000. Finally, Advisor Group Holdings Inc. purchased a new stake in Cosan during the first quarter valued at approximately $157,000. 21.61% of the stock is owned by hedge funds and other institutional investors.
Cosan Company Profile
Cosan Limited, together with its subsidiaries, engages in fuel and natural gas distribution, logistics, lubricant, sugar and ethanol businesses primarily in Brazil and internationally. The company's Raízen Energia produces and markets products derived from sugar cane, including raw sugar, anhydrous, and hydrated ethanol, as well as activities related to energy cogeneration from sugarcane bagasse.
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