Sasol (NYSE:SSL) Sees Unusually-High Trading Volume – What’s Next?

Sasol Ltd. (NYSE:SSL) shares saw strong trading volume on Friday . 2,278,491 shares were traded during mid-day trading, an increase of 96% from the previous session’s volume of 1,160,900 shares.The stock last traded at $6.1050 and had previously closed at $7.15.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Zacks Research lowered shares of Sasol from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 25th. Morgan Stanley downgraded Sasol from an “overweight” rating to an “equal weight” rating in a report on Monday, September 22nd. JPMorgan Chase & Co. restated an “underweight” rating on shares of Sasol in a research note on Friday. Weiss Ratings restated a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Sasol from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Sell”.

Sasol Stock Down 13.2%

The company has a quick ratio of 1.27, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $6.57 and a 200 day simple moving average of $6.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in Sasol by 240.6% in the 3rd quarter. SG Americas Securities LLC now owns 261,467 shares of the oil and gas company’s stock valued at $1,626,000 after acquiring an additional 184,704 shares in the last quarter. ABC Arbitrage SA bought a new position in shares of Sasol during the second quarter valued at $833,000. Creative Planning increased its position in Sasol by 157.0% during the 2nd quarter. Creative Planning now owns 246,324 shares of the oil and gas company’s stock valued at $1,089,000 after purchasing an additional 150,491 shares during the period. American Century Companies Inc. increased its holdings in Sasol by 25.5% in the second quarter. American Century Companies Inc. now owns 890,502 shares of the oil and gas company’s stock worth $3,936,000 after purchasing an additional 180,827 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Sasol by 11.9% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 767,312 shares of the oil and gas company’s stock valued at $3,392,000 after acquiring an additional 81,769 shares during the period. Institutional investors and hedge funds 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.