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

by · The Markets Daily

Sasol Limited (NYSE:SSL – Get Free Report)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $5.72, but opened at $5.97. Sasol shares last traded at $6.04, with a volume of 143,993 shares changing hands.

Analyst Upgrades and Downgrades

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

Read Our Latest Report on Sasol

Sasol Stock Performance

The business’s fifty day simple moving average is $6.85 and its 200-day simple moving average is $7.16. The company has a market capitalization of $3.91 billion, a P/E ratio of 2.58, a P/E/G ratio of 0.14 and a beta of 2.41. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.58 and a current ratio of 2.33.

Institutional Trading of Sasol

Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. increased its position in Sasol by 7.1% in the second quarter. American Century Companies Inc. now owns 542,205 shares of the oil and gas company’s stock worth $4,126,000 after purchasing an additional 35,818 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Sasol by 53.0% in the 1st quarter. Pzena Investment Management LLC now owns 352,561 shares of the oil and gas company’s stock worth $2,754,000 after purchasing an additional 122,108 shares during the period. Creative Planning increased its position in shares of Sasol by 21.8% during the 3rd quarter. Creative Planning now owns 144,902 shares of the oil and gas company’s stock valued at $980,000 after purchasing an additional 25,961 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Sasol by 2.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 78,516 shares of the oil and gas company’s stock valued at $613,000 after buying an additional 1,900 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in Sasol by 417.3% in the second quarter. Point72 Asset Management L.P. now owns 71,900 shares of the oil and gas company’s stock worth $547,000 after buying an additional 58,000 shares during the last quarter. 1.21% of the stock is owned by hedge funds and other institutional investors.

About Sasol

(Get Free Report)

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.

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