Cosan S.A. (NYSE:CSAN) Sees Large Decline in Short Interest

Cosan S.A. (NYSE:CSAN) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 715,200 shares, a decline of 6.9% from the March 15th total of 768,500 shares. Based on an average daily trading volume, of 273,900 shares, the days-to-cover ratio is currently 2.6 days.

Cosan Stock Down 3.9 %

Shares of Cosan stock traded down $0.43 during trading on Wednesday, hitting $10.72. 593,271 shares of the stock traded hands, compared to its average volume of 476,903. Cosan has a twelve month low of $10.70 and a twelve month high of $17.50. The company has a fifty day moving average price of $13.40 and a two-hundred day moving average price of $14.02.

Institutional Investors Weigh In On Cosan

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its holdings in Cosan by 2.5% in the 1st quarter. Renaissance Technologies LLC now owns 5,187,782 shares of the company’s stock worth $61,320,000 after purchasing an additional 126,402 shares during the last quarter. Martin Currie Ltd. increased its position in Cosan by 6.5% in the 3rd quarter. Martin Currie Ltd. now owns 2,722,425 shares of the company’s stock worth $36,998,000 after buying an additional 166,456 shares during the period. Bank of America Corp DE increased its position in Cosan by 14.3% in the 1st quarter. Bank of America Corp DE now owns 848,202 shares of the company’s stock worth $10,026,000 after buying an additional 106,364 shares during the period. Itau Unibanco Holding S.A. increased its position in Cosan by 251.6% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 398,619 shares of the company’s stock worth $5,417,000 after buying an additional 285,241 shares during the period. Finally, Optiver Holding B.V. increased its position in Cosan by 10.7% in the 4th quarter. Optiver Holding B.V. now owns 364,105 shares of the company’s stock worth $5,702,000 after buying an additional 35,232 shares during the period.

About Cosan

Cosan SA engages in the fuel distribution business 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; engages in the petroleum refining; operation of convenience stores; manufacture and sale of automotive and industrial lubricants; and production and sale of liquefied petroleum gas.