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

Shares of Sasol Ltd. (NYSE:SSL) gapped up prior to trading on Friday . The stock had previously closed at $8.60, but opened at $9.10. Sasol shares last traded at $9.12, with a volume of 728,291 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SSL. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. The Goldman Sachs Group downgraded Sasol from a “buy” rating to a “neutral” rating in a report on Monday, February 9th. Zacks Research upgraded Sasol from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. UBS Group downgraded Sasol from a “buy” rating to a “neutral” rating in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sasol in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Sasol Stock Up 7.3%

The stock has a fifty day simple moving average of $7.39 and a 200-day simple moving average of $6.75. The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53.

Hedge Funds Weigh In On Sasol

Hedge funds have recently added to or reduced their stakes in the stock. Atlas Capital Advisors Inc. acquired a new stake in Sasol during the fourth quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd raised its stake in Sasol by 232.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 3,920 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Sasol by 347.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 6,957 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Sasol in the second quarter valued at $52,000. Finally, GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 4,482 shares during the last quarter. 1.21% of the stock is currently owned by hedge funds and other institutional investors.

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.