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 $6.74, but opened at $6.40. Sasol shares last traded at $6.3850, with a volume of 276,868 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Zacks Research cut Sasol from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 25th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a report on Wednesday, October 8th. Morgan Stanley cut Sasol from an “overweight” rating to an “equal weight” rating in a research report on Monday, September 22nd. Finally, Wall Street Zen cut shares of Sasol from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. Two research 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 company has a consensus rating of “Reduce”.

Sasol Price Performance

The company has a quick ratio of 1.27, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $6.50 and its two-hundred day moving average is $6.04.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of Sasol by 1,627.3% during the third quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock worth $6,381,000 after purchasing an additional 966,539 shares during the last quarter. Millennium Management LLC boosted its stake in Sasol by 75.7% in the 1st quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock worth $6,135,000 after buying an additional 624,911 shares during the last quarter. Voleon Capital Management LP acquired a new stake in Sasol in the 3rd quarter worth about $3,079,000. Arrowstreet Capital Limited Partnership purchased a new stake in Sasol in the 3rd quarter valued at about $3,006,000. Finally, Bank of America Corp DE grew its holdings in Sasol by 206.2% in the second quarter. Bank of America Corp DE now owns 537,250 shares of the oil and gas company’s stock valued at $2,375,000 after purchasing an additional 361,777 shares during the period. 1.21% of the stock is currently owned by institutional investors and hedge funds.

About Sasol

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.