Sasol (NYSE:SSL) Shares Gap Down – Here’s Why
by Scott Moore · The Cerbat GemShares of Sasol Ltd. (NYSE:SSL – Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $13.12, but opened at $12.32. Sasol shares last traded at $11.9940, with a volume of 715,684 shares traded.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. The Goldman Sachs Group cut Sasol from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a research report on Friday, January 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, January 21st. Wall Street Zen upgraded Sasol from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Finally, UBS Group cut Sasol from a “buy” rating to a “neutral” rating in a research report on Thursday, March 5th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce”.
Get Our Latest Stock Analysis on SSL
Sasol Trading Down 7.4%
The company has a debt-to-equity ratio of 0.53, a current ratio of 1.66 and a quick ratio of 1.09. The stock has a 50-day moving average of $10.52 and a 200 day moving average of $7.88.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Millennium Management LLC boosted its stake in Sasol by 75.7% in the first quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock valued at $6,135,000 after buying an additional 624,911 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Sasol by 1,627.3% in the third quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock valued at $6,381,000 after buying an additional 966,539 shares in the last quarter. UBS Group AG boosted its stake in Sasol by 52.0% in the fourth quarter. UBS Group AG now owns 835,052 shares of the oil and gas company’s stock valued at $5,436,000 after buying an additional 285,807 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Sasol by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 680,048 shares of the oil and gas company’s stock valued at $4,426,000 after buying an additional 6,109 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Sasol by 12.9% in the fourth quarter. Renaissance Technologies LLC now owns 583,900 shares of the oil and gas company’s stock valued at $3,801,000 after buying an additional 66,900 shares in the last quarter. Institutional investors own 1.21% of the company’s stock.
About Sasol
Sasol Limited is an integrated energy and chemical company headquartered in Johannesburg, South Africa. The company’s core operations encompass the conversion of natural gas, coal and heavy hydrocarbons into liquid fuels and a wide array of chemical products. Sasol leverages proprietary Fischer-Tropsch and gas-to-liquids (GTL) technologies to deliver cleaner-burning diesel, jet fuel and naphtha, alongside solvents, surfactants and specialty polymers for industrial and consumer applications.
In addition to its GTL business, Sasol operates downstream facilities for the manufacture of alpha olefins, ethylene, propylene and other base-chemical intermediates.