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

Sasol Ltd. (NYSE:SSL)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $12.27, but opened at $11.75. Sasol shares last traded at $11.75, with a volume of 99,860 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SSL shares. Weiss Ratings cut shares of Sasol from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. UBS Group upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, June 4th. Investec initiated coverage on shares of Sasol in a report on Wednesday, June 17th. They issued a “sell” rating on the stock. Wall Street Zen downgraded Sasol from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Sasol in a research note on Monday, June 15th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Sasol Stock Performance

The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average price of $11.03 and a 200-day moving average price of $11.38.

Institutional Trading of Sasol

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSL. Millennium Management LLC increased its stake in shares of Sasol by 75.7% during 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 acquiring an additional 624,911 shares during the last quarter. Jane Street Group LLC grew its holdings in Sasol by 31.9% in the first quarter. Jane Street Group LLC now owns 154,700 shares of the oil and gas company’s stock valued at $654,000 after purchasing an additional 37,412 shares during the period. Sivia Capital Partners LLC acquired a new position in Sasol during the second quarter worth approximately $52,000. JPMorgan Chase & Co. raised its stake in Sasol by 7,082.0% during the second quarter. JPMorgan Chase & Co. now owns 59,395 shares of the oil and gas company’s stock worth $263,000 after purchasing an additional 58,568 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Sasol by 347.3% during the second quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 6,957 shares during the period. Hedge funds and other institutional investors own 1.21% of the company’s stock.

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.