12 Best NYSE Penny Stocks to Buy According to Analysts

3. Cosan SA (NYSE:CSAN)

Price as of March 7: $4.94

Analysts upside potential as of March 7: 146.96%

Number of Hedge Fund Holders In Q4 2024: 14

Cosan SA (NYSE:CSAN) is a Brazilian conglomerate that operates in multiple sectors, including logistics, fuel distribution, natural gas, and lubricants. The company controls logistics firm Rumo, lubricants company Moove, and natural gas firm Compass and shares control of Raizen with Shell.

In January 2025, Cosan SA (NYSE:CSAN) sold approximately 173 million shares of its stake in Vale, cutting the stake by 4.05%. According to reports, the transaction raised around 9 billion reals ($1.5 billion). One of the things the company went to do immediately after the sale was to reduce its debt by 40%. The company stated in a securities filing that the decision was “based solely on the goal of optimizing its capital structure.”

Cosan SA’s (NYSE:CSAN) financial results for Q4 2024 showed mixed performance. The company reported an EBITDA under management of approximately BRL 30 billion ($5.1 billion). However, despite this positive EBITDA, the company recorded a negative earnings result of BRL 900 million ($152.9 million) for 2024. The company cited the depreciation of the home currency (Brazilian Real) and the devaluation of its shares as the primary causes of the poor financial performance. To be sure the company’s financial position isn’t as dire as the Q4 2024 financial results may want to portray, its corporate net debt stood at BRL 23.4 billion ($3.98 billion) by the end of 2024, with a debt service coverage ratio of 1.1.

Another positive is that the company announced a notable increase in dividends and interest on capital received, amounting to BRL 4.3 billion ($731.53 million) in 2024. Additionally, Rumo achieved record levels in transported volumes and tariffs in the fourth quarter. Management has promised to improve Cosan SA’s (NYSE:CSAN) capital structure this year. In addition to the Vale divestment, the company plans to pursue similar transactions throughout the year. Analysts project a 146.96% upside potential from the stock’s current price, which secures the company’s spot on this list of NYSE penny stocks to buy.