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

Shares of Sasol Ltd. (NYSE:SSL - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $4.99, but opened at $5.25. Sasol shares last traded at $5.31, with a volume of 251,775 shares trading hands.

Wall Street Analysts Forecast Growth

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

Sasol Trading Up 7.7%

The firm has a market cap of $3.49 billion, a P/E ratio of 2.37, a PEG ratio of 0.17 and a beta of 0.76. The company has a 50 day moving average of $4.73 and a 200 day moving average of $4.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.16 and a current ratio of 1.84.

Institutional Investors Weigh In On Sasol

Large investors have recently made changes to their positions in the company. Millennium Management LLC boosted its stake in shares of Sasol by 75.7% during 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 acquiring an additional 624,911 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Sasol by 100.7% during 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 purchasing an additional 528,860 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Sasol by 7.6% during 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 purchasing an additional 50,412 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Sasol by 119.0% during the 4th quarter. Renaissance Technologies LLC now owns 670,011 shares of the oil and gas company's stock worth $3,055,000 after purchasing an additional 364,111 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Sasol by 108.8% during 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 purchasing an additional 317,900 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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