Sasol (NYSE:SSL) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Sasol shares moved above their 200-day moving average, reaching $12.50 before last trading at $12.275, compared with the 200-day average of $11.38.
• Analyst sentiment remains cautious: Sasol has an average MarketBeat rating of “Reduce”, with one Buy, three Hold and three Sell ratings; recent firms including Zacks Research and Investec issued bearish assessments.
• Institutional ownership is limited at 1.21%, although several hedge funds recently initiated or increased positions in the stock.

Sasol Ltd. (NYSE:SSL - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.38 and traded as high as $12.50. Sasol shares last traded at $12.2750, with a volume of 831,298 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SSL shares. JPMorgan Chase & Co. restated a "neutral" rating on shares of Sasol in a research note on Monday, June 15th. Weiss Ratings lowered Sasol from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Zacks Research cut Sasol from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 8th. Investec assumed coverage on Sasol in a research report on Wednesday, June 17th. They issued a "sell" rating on the stock. Finally, UBS Group raised Sasol from a "neutral" rating to a "buy" rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Sasol currently has an average rating of "Reduce".

Sasol Stock Performance

The firm's 50 day simple moving average is $11.03 and its 200 day simple moving average is $11.38. The company has a quick ratio of 1.09, a current ratio of 1.66 and a debt-to-equity ratio of 0.53.

Institutional Investors Weigh In On Sasol

A number of hedge funds have recently made changes to their positions in SSL. Atlas Capital Advisors Inc. purchased a new position in Sasol during the 4th quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd increased its stake in 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 worth $36,000 after acquiring an additional 3,920 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 worth $40,000 after acquiring an additional 6,957 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Sasol during the 2nd quarter worth approximately $52,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Sasol during the 3rd quarter valued at approximately $63,000. 1.21% of the stock is currently owned by hedge funds and other institutional investors.

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.

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