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

Sasol Ltd. (NYSE:SSL - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $4.60, but opened at $4.81. Sasol shares last traded at $4.80, with a volume of 193,895 shares trading hands.

Wall Street Analysts Forecast Growth

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

Sasol Trading Up 2.0%

The stock has a market cap of $3.31 billion, a PE ratio of 2.25, a P/E/G ratio of 0.17 and a beta of 0.76. The business has a fifty day simple moving average of $4.41 and a two-hundred day simple moving average of $4.35.

Hedge Funds Weigh In On Sasol

Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in shares of Sasol by 191.6% during the fourth quarter. Rhumbline Advisers now owns 15,129 shares of the oil and gas company's stock valued at $69,000 after purchasing an additional 9,940 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Sasol in the fourth quarter worth $50,000. Raymond James Financial Inc. bought a new position in shares of Sasol during the fourth quarter valued at $54,000. Lindbrook Capital LLC raised its position in shares of Sasol by 76.8% in the 4th quarter. Lindbrook Capital LLC now owns 7,194 shares of the oil and gas company's stock worth $33,000 after purchasing an additional 3,125 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. grew its position in Sasol by 97.4% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 33,358 shares of the oil and gas company's stock valued at $152,000 after purchasing an additional 16,462 shares during the last quarter. Institutional investors own 1.21% of the company's stock.

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.