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

Shares of Sasol Ltd. (NYSE:SSL) gapped down before the market opened on Monday . The stock had previously closed at $7.36, but opened at $6.98. Sasol shares last traded at $7.0550, with a volume of 1,139,235 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SSL. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, January 21st. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. Wall Street Zen upgraded Sasol from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Zacks Research raised Sasol from a “strong sell” rating to a “hold” rating in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group downgraded Sasol from a “buy” rating to a “neutral” rating in a research note on Monday. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Sasol currently has a consensus rating of “Reduce”.

Sasol Stock Down 4.5%

The firm has a 50 day moving average of $6.63 and a two-hundred day moving average of $6.36. The company has a quick ratio of 1.27, a current ratio of 1.87 and a debt-to-equity ratio of 0.66.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake 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 in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Sasol during the 2nd quarter worth approximately $52,000. GAMMA Investing LLC boosted its stake in shares of Sasol by 107.9% in the 3rd quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 4,482 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Sasol in the third quarter valued at $63,000. Finally, Centiva Capital LP acquired a new stake in Sasol in the third quarter worth about $67,000. 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.