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

Sasol Ltd. (NYSE:SSL)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $15.11, but opened at $14.62. Sasol shares last traded at $14.5750, with a volume of 190,568 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SSL shares. UBS Group raised Sasol from a “neutral” rating to a “buy” rating in a research note on Thursday, June 4th. Wall Street Zen upgraded shares of Sasol from a “hold” rating to a “strong-buy” rating in a research report on Saturday, September 5th. Weiss Ratings raised shares of Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. Bank of America raised Sasol from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 9th. Finally, Zacks Research raised Sasol from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Sasol presently has a consensus rating of “Hold”.

Sasol Trading Down 1.2%

The business has a 50-day simple moving average of $12.04 and a 200-day simple moving average of $12.03. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.79 and a quick ratio of 1.17.

Sasol (NYSE:SSL) last announced its quarterly earnings results on Friday, August 14th. The oil and gas company reported $0.56 EPS for the quarter. The company had revenue of $4.61 billion during the quarter. Equities analysts forecast that Sasol Ltd. will post 2.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Sasol

Several institutional investors have recently added to or reduced their stakes in the stock. Ramsey Quantitative Systems purchased a new position in shares of Sasol during the 2nd quarter worth approximately $68,000. Blue Trust Inc. boosted its stake in shares of Sasol by 48.9% in the first quarter. Blue Trust Inc. now owns 9,115 shares of the oil and gas company’s stock valued at $118,000 after buying an additional 2,992 shares in the last quarter. DGS Capital Management LLC purchased a new stake in shares of Sasol in the fourth quarter valued at approximately $71,000. Kathmere Capital Management LLC acquired a new position in Sasol during the first quarter worth $152,000. Finally, First Trust Advisors LP purchased a new position in Sasol in the first quarter worth $153,000. Institutional investors and hedge funds own 1.21% of the company’s stock.

About Sasol

Sasol Limited is a South African integrated chemicals and energy company listed on the New York Stock Exchange under the symbol SSL. The company develops and commercializes technologies that convert coal and natural gas into fuels, chemicals and other value-added products, with operations and customers in South Africa and international markets.

Its portfolio includes liquid fuels, solvents, alcohols, surfactants, polymers, waxes, ammonia and other chemical products used in sectors such as mining, manufacturing, agriculture, automotive, personal care and household products.