Sasol (NYSE:SSL) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Sasol Ltd. (NYSE:SSL)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.38 and traded as high as $12.50. Sasol shares last traded at $12.2750, with a volume of 831,298 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings downgraded Sasol from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Investec began coverage on Sasol in a research note on Wednesday, June 17th. They issued a “sell” rating on the stock. UBS Group raised shares of Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Sasol in a research report on Monday, June 15th. Finally, Zacks Research downgraded Sasol from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce”.

Sasol Price Performance

The company has a quick ratio of 1.09, a current ratio of 1.66 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $11.04 and a 200 day simple moving average of $11.41.

Institutional Investors Weigh In On Sasol

Hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its holdings in Sasol by 123.3% during the second quarter. Assenagon Asset Management S.A. now owns 1,381,209 shares of the oil and gas company’s stock worth $13,563,000 after buying an additional 762,796 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Sasol in the first quarter valued at approximately $1,231,000. UBS Group AG increased its position in shares of Sasol by 52.0% in the fourth quarter. UBS Group AG now owns 835,052 shares of the oil and gas company’s stock valued at $5,436,000 after buying an additional 285,807 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of Sasol by 40.6% during the 1st quarter. Quantinno Capital Management LP now owns 166,465 shares of the oil and gas company’s stock worth $2,157,000 after buying an additional 48,086 shares during the period. Finally, Pictet Asset Management Holding SA acquired a new stake in Sasol in the 1st quarter valued at $11,284,000. Hedge funds and other institutional investors own 1.21% of the company’s stock.

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.