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

Sasol Limited (NYSE:SSL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $5.27, but opened at $5.07. Sasol shares last traded at $5.07, with a volume of 129,114 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Sasol from a “buy” rating to a “hold” rating in a research report on Tuesday.

Sasol Stock Performance

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 fifty day moving average price of $5.79 and a 200-day moving average price of $6.77.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SSL. Blue Trust Inc. lifted its holdings in shares of Sasol by 247.6% in the 2nd quarter. Blue Trust Inc. now owns 4,849 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 3,454 shares during the last quarter. CWM LLC increased its position in shares of Sasol by 62.7% during the second quarter. CWM LLC now owns 5,417 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 2,087 shares during the period. Barclays PLC raised its stake in shares of Sasol by 255.9% during the third quarter. Barclays PLC now owns 9,912 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 7,127 shares in the last quarter. HB Wealth Management LLC purchased a new stake in shares of Sasol in the 2nd quarter worth $81,000. Finally, Jane Street Group LLC bought a new position in shares of Sasol during the 3rd quarter worth $75,000. Institutional investors own 1.21% of the company’s stock.

Sasol Company Profile

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.