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Cosan (NYSE:CSAN) Trades At An Unusually High Volume

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Cosan (NYSE:CSAN) Trades At An Unusually High Volume

(CTN News) – Company S.A. Cosan (NYSE:CSAN – Get Rating) experienced strong trading volume on Friday. There were 6,296 shares traded during midday trading, a decrease of 98% from the previous session’s volume of 335,989 shares.

The stock last traded at $12.74 and had previously closed at $12.26.

A Wall Street analyst’s perspective

A number of research analysts have recently commented on the stock. In a research report published on Thursday, October 13th, Goldman Sachs Group dropped its target price for shares from $18.30 to $15.80 and assigned the stock a “neutral” rating.

According to a research report published on Wednesday, September 28th, TheStreet lowered its rating on Cosan from a “C-” to a “D+”.

The stock of Cosan has increased by 1.9%

There is a 50-day moving average price of $13.04 and a 200-day moving average price of $14.26 for the company.

Institutional Trading of Cosan

Several hedge funds have recently made changes to their positions in the company. The company now owns 2,350 shares valued at $30,000. During this period, Atlas Capital Advisors LLC purchased an additional 805 shares for a total of 2,350 shares.

Cosan’s position in SPX Equities Gestao de Recursos Ltda increased by 38.1% during the first quarter of this year. As of the end of the third quarter, SPX Equities Gestao de Recursos Ltda owned 7,704 shares of the company’s stock, valued at $153,000. It acquired an additional 2,127 shares during the period.

Tower Research Capital LLC TRC acquired a new position in Cosan during the third quarter worth approximately $32,000. Lazard Asset Management LLC increased its position in Cosan by 0.3% during the third quarter.

As a result of the acquisition of 2,581 additional shares during the last quarter, Lazard Asset Management LLC now owns 796,496 shares of the company’s stock worth $10,258,000.

During the third quarter, Deltec Asset Management LLC increased its holdings in shares of Cosan by 6.9%.

As of the end of the third quarter, Deltec Asset Management LLC owned 77,942 shares worth $1,004,000, an increase of 5,000 shares from the previous quarter.

A total of 4.02% of the company’s shares are controlled by institutional investors and hedge funds.

Cosan: a brief overview

Through its subsidiaries, Cosan SA primarily distributes fuel in Brazil, Europe, Latin America, North America, Asia, and internationally.

The company’s Raízen segment distributes and markets fuels through a franchised network of service stations under the Shell brand; it engages in petroleum refining, operating convenience stores, manufacturing and selling automotive and industrial lubricants; and producing and selling liquefied petroleum gas, among others.

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