The stock of Cosan Limited (NYSE:CZZ) is now priced at $18.42 and the shares are 0.26 points up or 1.43% higher compared to its previous closing price of $18.16. The stock had 1.33 million contracts set over the past session. CZZ shares’ daily volume is compared to its average trading volume at 1.149 million shares. However, it has a float of 115 million and although its performance was -1.34% over the week, it’s one to watch. Analysts have given the CZZ stock a yearly average price target of $19.15 per share. It means the stock’s upside potential is 3.96% with the CZZ share price recently placing at $18.15 to $18.84.
The shorts are running away from the Cosan Limited stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CZZ shares have declined. Short interest in the stock represents just 2.81% of its float, but the volume has dropped by 0.
In the last trading session, Cosan Limited (NYSE:CZZ) dropped by -$0.25 over the week and lost -$0.32 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $23.7. The stock recorded its established 52-week high on 01/03/20.
Since 03/19/20, the stock has traded to a low of $8.56 at 115.19%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.34. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Cosan Limited’s two-week RSI is 50.16. This suggests that the stock is neutral at the moment and that CZZ shares’ price movement remains stable. The stochastic readings are equally revealing at 72.17% meaning the CZZ share price is currently in oversold territory.
The technical chart shows that the CZZ stock will likely settle at between $18.79 and $19.16 per share. However, if the stock dips below $18.1, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $17.78.
Currently, the stock is trading in the green of MACD, with a reading of 0.19. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at JP Morgan cut their recommendation for CZZ from Overweight to Neutral in July 07 review while maintai their target price of $18. Goldman analysts downgraded their recommendation of the stock from Buy to Neutral in a flash note released to investors on May 20. HSBC Securities seeing the stock struggling downgraded it from Buy to Hold on October 07.
The average rating for the CZZ equity is 2.29 and is currently gathering a bullish momentum. Of 6 analysts tracking Cosan Limited polled by Reuters, 3 rated CZZ as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the CZZ stock price is 15.48X ahead of its 12-month Consensus earnings per share estimates.