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

Sasol Ltd. (NYSE:SSL) shares 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 changing hands.

Wall Street Analyst Weigh In

SSL has been the topic of several recent analyst reports. Wall Street Zen raised Sasol from a “buy” rating to a “strong-buy” rating in a research report on Friday. Zacks Research upgraded Sasol from a “strong sell” rating to a “hold” rating in a research note on Thursday. Weiss Ratings restated a “sell (d+)” rating on shares of Sasol in a report on Wednesday. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce”.

Sasol Price Performance

The stock has a fifty day moving average of $6.54 and a 200 day 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in 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 purchasing an additional 6,957 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Sasol in the 2nd quarter valued at about $52,000. GAMMA Investing LLC grew its holdings in Sasol by 107.9% during the third quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 4,482 shares during the period. Brevan Howard Capital Management LP purchased a new position in Sasol during the third quarter valued at approximately $63,000. Finally, Centiva Capital LP acquired a new position in Sasol in the third quarter valued at approximately $67,000. 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.