Sasol (NYSE:SSL) Shares Gap Up – What’s Next?

Sasol Ltd. (NYSE:SSL)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $8.60, but opened at $9.10. Sasol shares last traded at $9.12, with a volume of 728,291 shares changing hands.

Wall Street Analyst Weigh In

SSL has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut Sasol from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, January 21st. UBS Group lowered shares of Sasol from a “buy” rating to a “neutral” rating in a report on Thursday. Wall Street Zen cut shares of Sasol from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Zacks Research raised shares of Sasol from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold”.

Sasol Price Performance

The business’s fifty day moving average price is $7.44 and its 200 day moving average price is $6.78. The company has a quick ratio of 1.09, a current ratio of 1.66 and a debt-to-equity ratio of 0.53.

Hedge Funds Weigh In On Sasol

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSL. Millennium Management LLC grew its stake in shares of Sasol by 75.7% during the first quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock worth $6,135,000 after buying an additional 624,911 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Sasol by 31.9% in the 1st quarter. Jane Street Group LLC now owns 154,700 shares of the oil and gas company’s stock valued at $654,000 after acquiring an additional 37,412 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Sasol during the 2nd quarter valued at $52,000. Savant Capital LLC bought a new stake in Sasol during the 2nd quarter worth $160,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Sasol by 11.9% during the 2nd 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 acquiring an additional 81,769 shares during the last quarter. 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.