Sasol (NYSE:SSL) Shares Gap Down – Should You Sell?

Shares of Sasol Ltd. (NYSE:SSL) gapped down before the market opened on Wednesday . The stock had previously closed at $13.60, but opened at $11.80. Sasol shares last traded at $12.0650, with a volume of 1,759,433 shares traded.

Wall Street Analysts Forecast Growth

SSL has been the subject of several research reports. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Sasol in a research report on Friday, January 16th. Wall Street Zen raised shares of Sasol from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, January 21st. The Goldman Sachs Group downgraded shares of Sasol from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. Finally, Zacks Research downgraded shares of Sasol from a “strong-buy” rating to a “hold” rating in a research report on Monday. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Sasol Stock Down 8.7%

The business’s 50-day moving average is $9.75 and its two-hundred day moving average is $7.58. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.66 and a quick ratio of 1.09.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its position in Sasol by 240.6% in the third quarter. SG Americas Securities LLC now owns 261,467 shares of the oil and gas company’s stock valued at $1,626,000 after purchasing an additional 184,704 shares in the last quarter. JPMorgan Chase & Co. grew its position in Sasol by 1,627.3% in the third quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock valued at $6,381,000 after purchasing an additional 966,539 shares in the last quarter. American Century Companies Inc. grew its position in Sasol by 25.5% in the second quarter. American Century Companies Inc. now owns 890,502 shares of the oil and gas company’s stock valued at $3,936,000 after purchasing an additional 180,827 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Sasol in the second quarter valued at $52,000. Finally, GAMMA Investing LLC grew its position in Sasol by 107.9% in the third 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. Institutional investors own 1.21% of the company’s stock.

Sasol Company Profile

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.