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

Sasol Limited (NYSE:SSL)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $4.10, but opened at $4.25. Sasol shares last traded at $4.20, with a volume of 203,763 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SSL shares. Bank of America cut Sasol from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. StockNews.com upgraded shares of Sasol from a “hold” rating to a “buy” rating in a research note on Saturday, March 22nd.

Sasol Stock Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 2.33 and a quick ratio of 1.58. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 1.85, a P/E/G ratio of 0.17 and a beta of 2.31. The firm has a fifty day simple moving average of $4.51 and a two-hundred day simple moving average of $5.32.

Institutional Trading of Sasol

Large investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its stake in shares of Sasol by 2,401.8% during the fourth quarter. Millennium Management LLC now owns 825,444 shares of the oil and gas company’s stock worth $3,764,000 after buying an additional 792,450 shares during the period. Two Sigma Investments LP raised its stake in Sasol by 100.7% in the 4th quarter. Two Sigma Investments LP now owns 1,054,238 shares of the oil and gas company’s stock worth $4,807,000 after acquiring an additional 528,860 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Sasol during the 4th quarter worth about $1,674,000. Renaissance Technologies LLC lifted its position in Sasol by 119.0% during the 4th quarter. Renaissance Technologies LLC now owns 670,011 shares of the oil and gas company’s stock worth $3,055,000 after acquiring an additional 364,111 shares during the period. Finally, Two Sigma Advisers LP grew its stake in Sasol by 108.8% during the 4th quarter. Two Sigma Advisers LP now owns 610,200 shares of the oil and gas company’s stock valued at $2,783,000 after purchasing an additional 317,900 shares during the last quarter. Hedge funds and other institutional investors own 1.21% of the company’s stock.

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.