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

Sasol Limited (NYSE:SSL)’s share price gapped down before the market opened on Friday . The stock had previously closed at $5.14, but opened at $4.97. Sasol shares last traded at $4.93, with a volume of 508,411 shares.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Sasol from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th.

Sasol Stock Performance

The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 2.23, a price-to-earnings-growth ratio of 0.13 and a beta of 2.41. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.58 and a current ratio of 2.33. The company’s fifty day simple moving average is $6.12 and its two-hundred day simple moving average is $6.90.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in shares of Sasol in the 1st quarter valued at about $199,000. Tidal Investments LLC acquired a new position in shares of Sasol in the 1st quarter valued at about $270,000. CWM LLC boosted its holdings in shares of Sasol by 62.7% in the 2nd quarter. CWM LLC now owns 5,417 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 2,087 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Sasol by 3,112.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,714 shares of the oil and gas company’s stock valued at $52,000 after buying an additional 6,505 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Sasol by 145.2% in the 3rd quarter. Blue Trust Inc. now owns 11,892 shares of the oil and gas company’s stock valued at $80,000 after buying an additional 7,043 shares during the period. 1.21% of the stock is owned by institutional investors and hedge funds.

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.