Sasol (NYSE:SSL) Sees Strong Trading Volume – Here’s Why

Sasol Ltd. (NYSE:SSL) saw unusually-strong trading volume on Friday . Approximately 2,278,491 shares changed hands 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 Ratings Changes

Several research firms have recently weighed in on SSL. Morgan Stanley cut shares of Sasol from an “overweight” rating to an “equal weight” rating in a report on Monday, September 22nd. Wall Street Zen downgraded Sasol from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Sasol in a research report on Friday. Finally, Zacks Research cut shares of Sasol from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 25th. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Strong Sell”.

Sasol Price Performance

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 50 day moving average price of $6.57 and a 200-day moving average price of $6.13.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Laird Norton Wetherby Wealth Management LLC grew its holdings in shares of Sasol by 5.1% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 32,723 shares of the oil and gas company’s stock worth $204,000 after buying an additional 1,593 shares during the last quarter. Ballentine Partners LLC boosted its position in Sasol by 8.9% during the third quarter. Ballentine Partners LLC now owns 21,317 shares of the oil and gas company’s stock worth $133,000 after purchasing an additional 1,745 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Sasol by 11.3% in the second quarter. QRG Capital Management Inc. now owns 22,781 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 2,318 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Sasol by 3.9% in the third quarter. Integrated Wealth Concepts LLC now owns 62,848 shares of the oil and gas company’s stock worth $391,000 after acquiring an additional 2,334 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Sasol by 11.5% in the 3rd quarter. US Bancorp DE now owns 26,354 shares of the oil and gas company’s stock valued at $164,000 after purchasing an additional 2,719 shares in the last quarter. Hedge funds and other institutional investors 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.