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

Sasol Limited (NYSE:SSL) shares gapped down prior to trading 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.

Wall Street Analysts Forecast Growth

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

Sasol Stock Performance

The company’s fifty day moving average is $6.16 and its 200 day moving average is $6.92. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.33 and a quick ratio of 1.58.

Institutional Investors Weigh In On Sasol

Large investors have recently made changes to their positions in the business. CWM LLC boosted its position in Sasol by 62.7% during the 2nd quarter. CWM LLC now owns 5,417 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 2,087 shares during the period. Van ECK Associates Corp boosted its position in shares of Sasol by 7.4% in the second quarter. Van ECK Associates Corp now owns 36,974 shares of the oil and gas company’s stock worth $281,000 after buying an additional 2,535 shares during the period. Ritholtz Wealth Management grew its stake in shares of Sasol by 6.3% in the second quarter. Ritholtz Wealth Management now owns 57,825 shares of the oil and gas company’s stock valued at $440,000 after buying an additional 3,416 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Sasol by 247.6% during the 2nd quarter. Blue Trust Inc. now owns 4,849 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 3,454 shares during the period. Finally, Mather Group LLC. acquired a new position in Sasol during the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds 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.