Sasol (NYSE:SSL) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Sasol Ltd. stock price recently surpassed its 200-day moving average, trading at $6.77 while the average stands at $4.77.
• Wall Street Zen upgraded Sasol’s rating from a "buy" to a "strong-buy", although the stock has an overall consensus rating of "Hold".
• Notable institutional investors have increased their stakes in Sasol, with Millennium Management boosting its holding by 75.7% in Q1.

Sasol Ltd. (NYSE:SSL - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.77 and traded as high as $6.91. Sasol shares last traded at $6.77, with a volume of 1,125,658 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Sasol from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 7th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold".

Sasol Trading Down 0.7%

The company has a current ratio of 1.87, a quick ratio of 1.27 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average of $5.94 and a 200-day moving average of $4.81. The stock has a market cap of $4.31 billion, a PE ratio of 2.93, a price-to-earnings-growth ratio of 0.36 and a beta of 0.80.

Institutional Investors Weigh In On Sasol

A number of institutional investors and hedge funds have recently bought and sold shares of SSL. EverSource Wealth Advisors LLC lifted its stake in Sasol by 347.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company's stock valued at $40,000 after buying an additional 6,957 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Sasol in the 2nd quarter valued at approximately $52,000. FORA Capital LLC acquired a new position in Sasol in the 1st quarter valued at $55,000. Blue Trust Inc. raised its holdings in Sasol by 24.9% in the 1st quarter. Blue Trust Inc. now owns 17,229 shares of the oil and gas company's stock valued at $73,000 after acquiring an additional 3,433 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in Sasol by 119.9% in the 2nd quarter. Parallel Advisors LLC now owns 17,169 shares of the oil and gas company's stock valued at $76,000 after acquiring an additional 9,360 shares during the last quarter. Hedge funds and other 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.