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

Sasol Ltd. (NYSE:SSL) gapped down prior to trading on Monday . The stock had previously closed at $7.36, but opened at $6.98. Sasol shares last traded at $7.0550, with a volume of 1,139,235 shares trading hands.

Analysts Set New Price Targets

Several brokerages have commented on SSL. The Goldman Sachs Group downgraded Sasol from a “buy” rating to a “neutral” rating in a research note on Monday. Wall Street Zen upgraded shares of Sasol from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sasol in a report on Wednesday, January 21st. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. Finally, Zacks Research raised shares of Sasol from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

Sasol Trading Down 4.5%

The company has a 50-day moving average of $6.63 and a two-hundred day moving average of $6.36. 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 Investors Weigh In On Sasol

Several hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Sasol by 107.9% during the 3rd quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 4,482 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Sasol by 347.3% in 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 in the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Sasol during the third quarter worth $63,000. Centiva Capital LP purchased a new position in shares of Sasol in the third quarter worth about $67,000. Finally, Sivia Capital Partners LLC purchased a new stake in shares of Sasol in the 2nd quarter valued at $52,000. 1.21% of the stock is currently owned by hedge funds and other 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.