Sasol (NYSE:SSL) Shares Gap Down - Time to Sell?

Key Points

• Sasol's share price dropped from a previous close of $5.87 to an opening price of $5.51, currently trading at $5.46.
• Analyst ratings are mixed, with Weiss Ratings maintaining a "sell" but Wall Street Zen upgrading to "strong-buy" while Morgan Stanley downgraded to "equal weight".
• Large investors have increased their stakes significantly, with EverSource Wealth Advisors boosting their position by 347.3% in the second quarter.

Sasol Ltd. (NYSE:SSL - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $5.87, but opened at $5.51. Sasol shares last traded at $5.46, with a volume of 465,859 shares.

Wall Street Analysts Forecast Growth

SSL has been the topic of several research reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Sasol in a report on Wednesday, October 8th. Wall Street Zen raised Sasol from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 11th. Finally, Morgan Stanley cut Sasol from an "overweight" rating to an "equal weight" rating in a report on Monday, September 22nd. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce".

Sasol Stock Down 6.6%

The company's 50 day moving average price is $6.31 and its two-hundred day moving average price is $5.04. 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 stock has a market cap of $3.56 billion, a P/E ratio of 2.42, a P/E/G ratio of 0.32 and a beta of 0.78.

Hedge Funds Weigh In On Sasol

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its position in shares of Sasol by 347.3% during the second quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company's stock worth $40,000 after purchasing an additional 6,957 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Sasol during the second quarter valued at $52,000. GAMMA Investing LLC grew its holdings in shares of Sasol by 107.9% during the third quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company's stock valued at $54,000 after buying an additional 4,482 shares during the last quarter. FORA Capital LLC purchased a new stake in shares of Sasol during the first quarter valued at $55,000. Finally, Blue Trust Inc. grew its holdings in shares of Sasol by 24.9% during the first quarter. Blue Trust Inc. now owns 17,229 shares of the oil and gas company's stock valued at $73,000 after buying an additional 3,433 shares during the last quarter. Institutional investors own 1.21% of the company's stock.

Sasol Company Profile

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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