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

Sasol Limited (NYSE:SSL)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $4.64, but opened at $4.85. Sasol shares last traded at $4.75, with a volume of 329,658 shares trading hands.

Wall Street Analysts Forecast Growth

SSL has been the subject of a number of analyst reports. StockNews.com cut Sasol from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Bank of America lowered shares of Sasol from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th.

Sasol Stock Performance

The stock has a 50-day moving average of $4.70 and a 200 day moving average of $5.79. 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 firm has a market capitalization of $3.03 billion, a P/E ratio of 2.06, a price-to-earnings-growth ratio of 0.17 and a beta of 2.31.

Institutional Trading of Sasol

A number of hedge funds and other institutional investors have recently made changes to their positions in SSL. Vident Advisory LLC grew its holdings in Sasol by 11.2% during the 4th quarter. Vident Advisory LLC now owns 40,690 shares of the oil and gas company’s stock worth $186,000 after acquiring an additional 4,108 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Sasol by 108.8% during the fourth quarter. Two Sigma Advisers LP now owns 610,200 shares of the oil and gas company’s stock worth $2,783,000 after purchasing an additional 317,900 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Sasol by 100.7% during the fourth quarter. Two Sigma Investments LP now owns 1,054,238 shares of the oil and gas company’s stock valued at $4,807,000 after purchasing an additional 528,860 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Sasol by 45.9% in the fourth quarter. Point72 Asset Management L.P. now owns 433,100 shares of the oil and gas company’s stock valued at $1,975,000 after purchasing an additional 136,300 shares in the last quarter. Finally, Millennium Management LLC raised its position in Sasol by 2,401.8% in the 4th quarter. Millennium Management LLC now owns 825,444 shares of the oil and gas company’s stock worth $3,764,000 after purchasing an additional 792,450 shares during the last quarter. 1.21% of the stock is currently owned by institutional investors and hedge funds.

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.