Sasol (NYSE:SSL) Trading Down 6.4% - Here's What Happened

Key Points

• Sasol Ltd. shares dropped 6.4% on Friday, trading as low as $5.07 before closing at $5.03.
• Wall Street analysts downgraded Sasol from a "buy" rating to a "hold" rating, indicating a cautious outlook.
• Institutional investors, including American Century Companies and BNP Paribas, have recently increased their stakes in Sasol, reflecting ongoing interest despite recent stock declines.
• The company's market capitalization is currently $3.29 billion with a low price-to-earnings ratio of 2.24, suggesting potential undervaluation.

Sasol Ltd. (NYSE:SSL - Get Free Report)'s stock price fell 6.4% during trading on Friday . The stock traded as low as $5.07 and last traded at $5.03. 151,654 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,195,993 shares. The stock had previously closed at $5.37.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Sasol from a "buy" rating to a "hold" rating in a research note on Friday, May 16th.

Sasol Price Performance

The company has a current ratio of 1.84, a quick ratio of 1.16 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $3.39 billion, a PE ratio of 2.30, a price-to-earnings-growth ratio of 0.18 and a beta of 0.76. The firm has a 50 day moving average price of $4.90 and a 200 day moving average price of $4.41.

Institutional Investors Weigh In On Sasol

Several hedge funds and other institutional investors have recently modified their holdings of SSL. Millennium Management LLC increased 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 in the last quarter. Two Sigma Investments LP increased its stake in Sasol by 100.7% in the 4th quarter. Two Sigma Investments LP now owns 1,054,238 shares of the oil and gas company's stock worth $4,807,000 after buying an additional 528,860 shares in the last quarter. American Century Companies Inc. increased its stake in Sasol by 7.6% in the 1st quarter. American Century Companies Inc. now owns 709,675 shares of the oil and gas company's stock worth $3,002,000 after buying an additional 50,412 shares in the last quarter. Renaissance Technologies LLC increased its stake in Sasol by 119.0% in the 4th quarter. Renaissance Technologies LLC now owns 670,011 shares of the oil and gas company's stock worth $3,055,000 after buying an additional 364,111 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in Sasol by 108.8% in the 4th quarter. Two Sigma Advisers LP now owns 610,200 shares of the oil and gas company's stock worth $2,783,000 after buying an additional 317,900 shares in the last quarter. 1.21% of the stock is currently owned by hedge funds and other institutional investors.

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.