Sasol (NYSE:SSL) Shares Gap Down - Here's Why

Key Points

• Sasol shares gapped down before trading Friday, opening at $12.32 after a $13.12 close and last trading around $11.99 on volume of 715,684 shares.
• Analyst sentiment has turned negative with a MarketBeat consensus of “Reduce” following downgrades from Goldman Sachs and UBS (four Holds and two Sells overall), despite one upgrade to Buy from Wall Street Zen.
• Technically and financially, the stock sits above its 50‑day and 200‑day SMAs ($10.52 and $7.88), while the company shows a current ratio of 1.66, quick ratio of 1.09, debt/equity of 0.53 and low institutional ownership at 1.21%.

Sasol Ltd. (NYSE:SSL - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $13.12, but opened at $12.32. Sasol shares last traded at $11.9940, with a volume of 715,684 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a "sell (d+)" rating on shares of Sasol in a report on Wednesday, January 21st. Wall Street Zen raised Sasol from a "hold" rating to a "buy" rating in a report on Saturday, March 14th. Zacks Research downgraded Sasol from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. The Goldman Sachs Group downgraded Sasol from a "buy" rating to a "neutral" rating in a report on Monday, February 9th. Finally, UBS Group downgraded Sasol from a "buy" rating to a "neutral" rating in a report on Thursday, March 5th. Four 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, Sasol currently has a consensus rating of "Reduce".

Sasol Price Performance

The firm has a fifty day simple moving average of $10.52 and a 200-day simple moving average of $7.88. The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SSL. Atlas Capital Advisors Inc. bought a new position in Sasol during the 4th quarter worth $35,000. Caitong International Asset Management Co. Ltd increased its position in Sasol by 232.5% during 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 buying an additional 3,920 shares during the period. EverSource Wealth Advisors LLC increased its position in 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 buying an additional 6,957 shares during the period. Sivia Capital Partners LLC bought a new position in Sasol during the 2nd quarter worth $52,000. Finally, GAMMA Investing LLC increased its position in Sasol by 107.9% during the 3rd quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company's stock worth $54,000 after buying an additional 4,482 shares during the period. Institutional investors own 1.21% of the company's stock.

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.

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