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

Sasol Limited (NYSE:SSL)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $4.66, but opened at $4.45. Sasol shares last traded at $4.41, with a volume of 389,914 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SSL. Bank of America lowered Sasol from a “buy” rating to a “neutral” rating in a research report on Thursday. StockNews.com raised shares of Sasol from a “hold” rating to a “buy” rating in a report on Monday, December 30th.

Sasol Stock Down 6.5 %

The company’s 50 day simple moving average is $4.86 and its 200-day simple moving average is $6.11. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.33 and a quick ratio of 1.58.

Institutional Investors Weigh In On Sasol

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. raised its stake in Sasol by 312.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 296,800 shares of the oil and gas company’s stock worth $2,006,000 after acquiring an additional 224,900 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of Sasol in the fourth quarter worth $730,000. Creative Planning raised its stake in shares of Sasol by 21.8% during the 3rd quarter. Creative Planning now owns 144,902 shares of the oil and gas company’s stock valued at $980,000 after buying an additional 25,961 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Sasol in the 3rd quarter valued at about $670,000. Finally, Cerity Partners LLC boosted its stake in shares of Sasol by 173.2% in the third quarter. Cerity Partners LLC now owns 63,417 shares of the oil and gas company’s stock worth $429,000 after buying an additional 40,206 shares during the last quarter. 1.21% of the stock is currently owned by hedge funds and other institutional investors.

About Sasol

Sasol Limited operates as a chemical and energy company in South Africa and internationally. It offers alumina, such as battery materials, catalyst supports, abrasives and polishing, and polymer additives; cobalt fischer-tropsch catalysts; carbon-based and recarburiser products; graphite electrodes; and mono-ethylene glycol and chlor-alkali products, monomers, mining chemicals and reagents, blends and hydrocarbons, methanol products, polymers, phenolics, and fertilizers.