Sasol (NYSE:SSL) Shares Gap Down – Time to Sell?

Sasol Ltd. (NYSE:SSL)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $7.30, but opened at $7.03. Sasol shares last traded at $7.1050, with a volume of 430,020 shares trading hands.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sasol in a report on Wednesday, October 8th. Morgan Stanley downgraded shares of Sasol from an “overweight” rating to an “equal weight” rating in a report on Monday, September 22nd. Finally, Wall Street Zen cut Sasol from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce”.

Sasol Price Performance

The company has a current ratio of 1.87, a quick ratio of 1.27 and a debt-to-equity ratio of 0.66. The business’s fifty day moving average is $6.35 and its two-hundred day moving average is $5.60.

Hedge Funds Weigh In On Sasol

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC raised its holdings in Sasol by 75.7% in the 1st quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock valued at $6,135,000 after acquiring an additional 624,911 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Sasol by 1,627.3% in the third quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock valued at $6,381,000 after purchasing an additional 966,539 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Sasol by 25.5% in the second quarter. American Century Companies Inc. now owns 890,502 shares of the oil and gas company’s stock valued at $3,936,000 after purchasing an additional 180,827 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Sasol by 11.9% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 767,312 shares of the oil and gas company’s stock worth $3,392,000 after buying an additional 81,769 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Sasol by 206.2% during the second quarter. Bank of America Corp DE now owns 537,250 shares of the oil and gas company’s stock worth $2,375,000 after buying an additional 361,777 shares during the last quarter. 1.21% of the stock is currently owned by institutional investors and hedge funds.

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.