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

Sasol Ltd. (NYSE:SSL)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $11.11, but opened at $10.46. Sasol shares last traded at $10.5050, with a volume of 390,320 shares.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Weiss Ratings raised shares of Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Zacks Research downgraded shares of Sasol from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. UBS Group upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, June 4th. Investec initiated coverage on shares of Sasol in a research note on Wednesday, June 17th. They issued a “sell” rating for the company. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Sasol in a report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Sasol Trading Down 5.2%

The business has a 50 day simple moving average of $12.84 and a 200-day simple moving average of $10.01. The company has a quick ratio of 1.09, a current ratio of 1.66 and a debt-to-equity ratio of 0.53.

Insider Activity at Sasol

In other news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $13.14, for a total transaction of $28,671.48. Following the transaction, the executive vice president directly owned 16,313 shares in the company, valued at $214,352.82. This represents a 11.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sasol

Institutional investors have recently bought and sold shares of the stock. Atlas Capital Advisors Inc. acquired a new position in Sasol during the fourth quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Sasol by 232.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 3,920 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Sasol by 347.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 6,957 shares during the period. Blue Trust Inc. grew its stake in shares of Sasol by 48.9% during the 1st quarter. Blue Trust Inc. now owns 9,115 shares of the oil and gas company’s stock valued at $118,000 after buying an additional 2,992 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Sasol during the 4th quarter worth $66,000. 1.21% of the stock is currently owned by hedge funds and other institutional investors.

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.