In December, there was a significant rise in the number of short positions held by Cosan S.A. (NYSE: CSAN). As a result, the total number of shares borrowed to cover short positions rose to 1,160,000 as of December 15th. This represents an increase of 8.4% when compared to the total number of 1,070,000 shares that were borrowed to cover short positions the previous month. The days-to-cover ratio is currently 3.0 days, and this number was arrived at after taking into account the average daily volume of trading, which was 385,400 shares.
The first transactions in shares of CSAN were conducted on Tuesday for $13.06. During the previous year, the price of Cosan fluctuated between $11.36 and $20.97, with a low of $11.36 and a high of $20.97, respectively. The company’s moving average price over the past 50 days is $12.90, and its average price over the past 200 days is $13.66.
Recently, hedge funds have gone through the process of making changes to their stock holdings. In the third quarter, Atlas Capital Advisors LLC made a 52.1% increase in the Cosan stock it owned, bringing its total percentage to 100%. Atlas Capital Advisors LLC now has a total of 2,350 shares of the company’s stock, which are worth a combined total of $30,000 after the recent acquisition of an additional 805 shares during the most recent fiscal quarter. During the third quarter of 2018, Tower Research Capital LLC (TRC) invested approximately 32 thousand dollars in Cosan. Quantbot Technologies LP added 116 thousand dollars worth of capital during the first three months of 2018 to their existing investment in Cosan. The National Bank of Canada incurred a total cost of approximately 127 000 Canadian dollars during the third quarter to make a new investment in Cosan. And finally, during the third quarter, Dimensional Fund Advisors LP purchased a new position in Cosan for approximately $153,000 to add to their existing holdings. At this time, institutions own 3.90% of the total shares of stock that are outstanding.
There have been numerous equity analysts who have expressed their views on the CSAN stock.
TheStreet lowered its previous rating of “c-” for Cosan to a “d+” in a research report released on September 28th. The price objective for Cosan was reduced from $18.30 to $15.80 in a research report made public by the Goldman Sachs Group on Thursday, October 13th. In addition, a rating of “neutral” was bestowed upon the company.
Through the companies it owns and manages in Brazil, Europe, Latin America, and North America, Cosan SA is primarily engaged in the fuel distribution industry around the world. Liquefied petroleum gases. This involvement extends to all of the refinings of this region. The petroleum refining, the operation of convenience stores, the production and sale of automotive and industrial lubricants, the distribution and marketing of fuels through a franchised network of Shell-branded gas stations, the production and sale of liquefied petroleum gas, and the distribution and marketing of fuels are all handled by the Razen division of the company. Other divisions of the company include the production and sale of automotive and industrial lubricants, the distribution and marketing of fuels, and the production and sale of liquor. In addition, the Razen division is responsible for the operation of convenience stores.