Sasol (NYSE:SSL) Shares Cross Above 200 Day Moving Average - Time to Sell?

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 200-day moving average during trading on Wednesday . The stock has a 200-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.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Sasol from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 7th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

Sasol Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.87. The stock has a fifty day simple moving average of $5.89 and a two-hundred day simple moving average of $4.77. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 2.95, a P/E/G ratio of 0.36 and a beta of 0.81.

Institutional Trading of Sasol

A number of large investors have recently bought and sold shares of the business. Evergreen Capital Management LLC acquired a new stake in Sasol during the 2nd quarter worth about $102,000. BNP Paribas Financial Markets grew its holdings in Sasol by 210.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 221,995 shares of the oil and gas company's stock worth $981,000 after acquiring an additional 150,494 shares during the period. Bank of America Corp DE boosted its position in shares of Sasol by 206.2% during the 2nd quarter. Bank of America Corp DE now owns 537,250 shares of the oil and gas company's stock worth $2,375,000 after purchasing an additional 361,777 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Sasol by 82.1% during the 2nd quarter. Jane Street Group LLC now owns 281,722 shares of the oil and gas company's stock worth $1,245,000 after purchasing an additional 127,022 shares in the last quarter. Finally, Banco BTG Pactual S.A. bought a new position in shares of Sasol during the 2nd quarter worth about $88,000. 1.21% of the stock is currently owned by institutional investors and hedge funds.

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.