Sasol (NYSE:SSL) Shares Gap Down – What’s Next?

Sasol Ltd. (NYSE:SSL)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $7.47, but opened at $7.22. Sasol shares last traded at $7.3540, with a volume of 756,369 shares traded.

Analyst Upgrades and Downgrades

SSL has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sasol in a report on Wednesday. Wall Street Zen raised Sasol from a “buy” rating to a “strong-buy” rating in a research report on Friday. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Sasol in a research report on Friday, January 16th. Finally, Zacks Research upgraded Sasol from a “strong sell” rating to a “hold” rating in a research note on Thursday. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Sasol Trading Down 3.3%

The firm has a 50-day simple moving average of $6.54 and a 200-day simple moving average of $6.22. The company has a current ratio of 1.87, a quick ratio of 1.27 and a debt-to-equity ratio of 0.66.

Hedge Funds Weigh In On Sasol

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Sasol by 107.9% during the third quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock valued at $54,000 after buying an additional 4,482 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Sasol by 347.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 6,957 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in Sasol during the third quarter valued at approximately $63,000. Centiva Capital LP acquired a new stake in Sasol in the third quarter valued at approximately $67,000. Finally, Sivia Capital Partners LLC purchased a new position in Sasol in the second quarter worth $52,000. 1.21% of the stock is currently owned by institutional investors.

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.