Sasol (NYSE:SSL) Shares Gap Up – Time to Buy?

Sasol Limited (NYSE:SSL) gapped up prior to trading on Friday . The stock had previously closed at $3.71, but opened at $3.84. Sasol shares last traded at $3.86, with a volume of 287,368 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Bank of America cut Sasol from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. StockNews.com cut Sasol from a “buy” rating to a “hold” rating in a report on Friday.

Sasol Stock Performance

The company has a 50 day moving average price of $3.71 and a 200-day moving average price of $4.48. The company has a current ratio of 2.33, a quick ratio of 1.58 and a debt-to-equity ratio of 0.89. The company has a market cap of $2.50 billion, a P/E ratio of 1.70, a price-to-earnings-growth ratio of 0.17 and a beta of 0.71.

Hedge Funds Weigh In On Sasol

Several hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC increased its stake in shares of 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 purchasing an additional 624,911 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Sasol by 15.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 204,784 shares of the oil and gas company’s stock valued at $866,000 after buying an additional 28,026 shares during the last quarter. Vident Advisory LLC grew its position in shares of Sasol by 75.9% in the 1st quarter. Vident Advisory LLC now owns 71,586 shares of the oil and gas company’s stock valued at $303,000 after buying an additional 30,896 shares during the last quarter. Trexquant Investment LP grew its position in shares of Sasol by 368.2% in the 1st quarter. Trexquant Investment LP now owns 437,517 shares of the oil and gas company’s stock valued at $1,851,000 after buying an additional 344,066 shares during the last quarter. Finally, FORA Capital LLC bought a new stake in shares of Sasol in the 1st quarter valued at about $55,000. 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.