Sasol (NYSE:SSL) Shares Gap Down – Here’s What Happened

Shares of Sasol Ltd. (NYSE:SSL) gapped down prior to trading on Thursday . The stock had previously closed at $6.40, but opened at $6.21. Sasol shares last traded at $6.1950, with a volume of 212,698 shares trading hands.

Wall Street Analyst Weigh In

SSL has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, October 8th. Wall Street Zen lowered Sasol from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. Zacks Research downgraded shares of Sasol from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 25th. Finally, Morgan Stanley cut Sasol from an “overweight” rating to an “equal weight” rating in a report on Monday, September 22nd. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

Sasol Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.27. The firm has a 50-day moving average of $6.33 and a 200-day moving average of $5.77.

Institutional Trading of Sasol

Several large investors have recently made changes to their positions in SSL. JPMorgan Chase & Co. boosted its stake in shares of 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 worth $6,381,000 after buying an additional 966,539 shares during the last quarter. Millennium Management LLC increased its holdings in shares of 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 purchasing an additional 624,911 shares during the last quarter. Voleon Capital Management LP acquired a new position in Sasol during the third quarter worth $3,079,000. Arrowstreet Capital Limited Partnership purchased a new stake in Sasol in the 3rd quarter valued at $3,006,000. Finally, Bank of America Corp DE increased its stake in shares of Sasol by 206.2% in the 2nd quarter. Bank of America Corp DE now owns 537,250 shares of the oil and gas company’s stock worth $2,375,000 after acquiring an additional 361,777 shares during the last quarter. 1.21% of the stock is owned by hedge funds and other institutional investors.

Sasol Company Profile

Sasol Limited operates as a chemical and energy company in South Africa and internationally. It offers alumina, such as battery materials, catalyst supports, abrasives and polishing, and polymer additives; cobalt fischer-tropsch catalysts; carbon-based and recarburiser products; graphite electrodes; and mono-ethylene glycol and chlor-alkali products, monomers, mining chemicals and reagents, blends and hydrocarbons, methanol products, polymers, phenolics, and fertilizers.