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

Sasol Limited (NYSE:SSL) shares gapped down prior to trading on Wednesday . The stock had previously closed at $4.96, but opened at $4.83. Sasol shares last traded at $4.85, with a volume of 117,057 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Sasol from a “buy” rating to a “hold” rating in a research note on Friday, May 16th.

Sasol Trading Down 0.6%

The company has a debt-to-equity ratio of 0.89, a current ratio of 2.33 and a quick ratio of 1.58. The firm’s 50 day moving average price is $3.92 and its 200 day moving average price is $4.37. The stock has a market capitalization of $3.14 billion, a P/E ratio of 2.13, a P/E/G ratio of 0.17 and a beta of 0.79.

Institutional Trading of Sasol

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SSL. Apollon Wealth Management LLC bought a new position in Sasol in the 4th quarter worth $46,000. Savant Capital LLC bought a new stake in shares of Sasol during the 4th quarter valued at about $94,000. ABC Arbitrage SA purchased a new position in shares of Sasol during the fourth quarter valued at about $730,000. Rhumbline Advisers raised its stake in Sasol by 191.6% in the fourth quarter. Rhumbline Advisers now owns 15,129 shares of the oil and gas company’s stock worth $69,000 after buying an additional 9,940 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Sasol in the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 1.21% of the company’s stock.

About Sasol

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.