Sasol (NYSE:SSL) Shares Gap Down – Here’s Why

Sasol Ltd. (NYSE:SSL)’s share price gapped down before the market opened on Friday . The stock had previously closed at $13.12, but opened at $12.32. Sasol shares last traded at $11.9940, with a volume of 715,684 shares.

Wall Street Analysts Forecast Growth

SSL has been the topic of several analyst reports. Zacks Research downgraded shares of Sasol from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. Wall Street Zen raised shares of Sasol from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. UBS Group downgraded shares of Sasol from a “buy” rating to a “neutral” rating in a research note on Thursday, March 5th. Finally, The Goldman Sachs Group downgraded shares of Sasol from a “buy” rating to a “neutral” rating in a research note on Monday, February 9th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

Sasol Stock Down 7.2%

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66. The business’s 50-day moving average is $10.61 and its two-hundred day moving average is $7.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Atlas Capital Advisors Inc. bought a new position in Sasol in the 4th quarter worth about $35,000. Caitong International Asset Management Co. Ltd grew its position in Sasol by 232.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 3,920 shares during the last quarter. GAMMA Investing LLC grew its position in Sasol by 107.9% in the 3rd quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 4,482 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Sasol by 347.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 6,957 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new position in Sasol in the 4th quarter worth about $66,000. Institutional investors own 1.21% of the company’s stock.

Sasol Company Profile

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.