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

Sasol Ltd. (NYSE:SSL)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $7.44, but opened at $7.17. Sasol shares last traded at $7.1250, with a volume of 102,267 shares traded.

Wall Street Analyst Weigh In

Several research firms recently commented on SSL. Zacks Research downgraded shares of Sasol from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 25th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a report on Wednesday, October 8th. Wall Street Zen downgraded Sasol from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Morgan Stanley lowered shares of Sasol from an “overweight” rating to an “equal weight” rating in a research report on Monday, September 22nd. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Sasol Price Performance

The company has a current ratio of 1.87, a quick ratio of 1.27 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average price of $6.56 and a 200 day moving average price of $6.12.

Institutional Trading of Sasol

Several large investors have recently added to or reduced their stakes in SSL. JPMorgan Chase & Co. boosted its holdings in Sasol by 1,627.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock worth $6,381,000 after acquiring an additional 966,539 shares during the period. Millennium Management LLC boosted its position in Sasol by 75.7% in the 1st 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 during the last quarter. Voleon Capital Management LP purchased a new stake in shares of Sasol during the third quarter worth about $3,079,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Sasol in the third quarter worth about $3,006,000. Finally, Bank of America Corp DE increased its holdings in Sasol by 206.2% during 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 purchasing an additional 361,777 shares during the last quarter. 1.21% of the stock is currently owned by institutional investors and hedge funds.

Sasol Company Profile

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.