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

Shares of Sasol Ltd. (NYSE:SSL) gapped down prior to trading on Wednesday . The stock had previously closed at $12.96, but opened at $12.13. Sasol shares last traded at $11.9780, with a volume of 1,022,039 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SSL shares. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, January 21st. Zacks Research raised Sasol from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. UBS Group lowered Sasol from a “buy” rating to a “neutral” rating in a report on Thursday, March 5th. Finally, Wall Street Zen raised shares of Sasol from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

Sasol Stock Performance

The stock’s 50-day moving average price is $9.19 and its 200 day moving average price is $7.38. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.66 and a quick ratio of 1.09.

Institutional Trading of Sasol

A number of large investors have recently bought and sold shares of SSL. SG Americas Securities LLC grew its position in Sasol by 240.6% during the 3rd quarter. SG Americas Securities LLC now owns 261,467 shares of the oil and gas company’s stock worth $1,626,000 after acquiring an additional 184,704 shares during the last quarter. American Century Companies Inc. boosted its stake in 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 acquiring an additional 180,827 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Sasol by 1,627.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock valued at $6,381,000 after acquiring an additional 966,539 shares during the period. Sivia Capital Partners LLC bought a new position in Sasol during the second quarter worth about $52,000. Finally, Quadrant Capital Group LLC lifted its stake in Sasol by 264.8% in the second quarter. Quadrant Capital Group LLC now owns 152,631 shares of the oil and gas company’s stock valued at $675,000 after buying an additional 110,791 shares in the last quarter. 1.21% of the stock is currently owned by 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.