Short Interest in Sasol Ltd. (NYSE:SSL) Decreases By 24.1%

Key Points

• Short interest in Sasol dropped by 24.1% in February to 3,840,469 shares (about 0.6% of shares short), leaving a short-interest ratio of 1.5 days.
• Several institutional investors — including SG Americas, Creative Planning and American Century — materially increased their stakes, though institutional ownership remains around 1.21% of the company.
• Sasol shares traded at $11.31 (near a 52-week high of $11.51) and analysts are mixed with an average rating of Hold (one Strong Buy, three Holds, two Sells).

Sasol Ltd. (NYSE:SSL - Get Free Report) was the recipient of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 3,840,469 shares, a drop of 24.1% from the February 12th total of 5,061,947 shares. Currently, 0.6% of the company's stock are short sold. Based on an average daily volume of 2,626,650 shares, the short-interest ratio is presently 1.5 days. Based on an average daily volume of 2,626,650 shares, the short-interest ratio is presently 1.5 days. Currently, 0.6% of the company's stock are short sold.

Institutional Investors Weigh In On Sasol

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its stake in Sasol by 240.6% in the third quarter. SG Americas Securities LLC now owns 261,467 shares of the oil and gas company's stock valued at $1,626,000 after acquiring an additional 184,704 shares in the last quarter. Creative Planning increased its position in shares of Sasol by 157.0% during the second quarter. Creative Planning now owns 246,324 shares of the oil and gas company's stock worth $1,089,000 after purchasing an additional 150,491 shares in the last quarter. American Century Companies Inc. increased its position in shares of Sasol by 25.5% during the second quarter. American Century Companies Inc. now owns 890,502 shares of the oil and gas company's stock worth $3,936,000 after purchasing an additional 180,827 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Sasol by 11.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 767,312 shares of the oil and gas company's stock valued at $3,392,000 after purchasing an additional 81,769 shares during the last quarter. Finally, Savant Capital LLC purchased a new stake in shares of Sasol in the 2nd quarter valued at about $160,000. Institutional investors and hedge funds own 1.21% of the company's stock.

Sasol Price Performance

Sasol stock traded up $0.71 during midday trading on Friday, reaching $11.31. The company's stock had a trading volume of 5,287,184 shares, compared to its average volume of 2,749,743. The company has a quick ratio of 1.09, a current ratio of 1.66 and a debt-to-equity ratio of 0.53. The business has a 50-day simple moving average of $7.80 and a 200-day simple moving average of $6.91. Sasol has a fifty-two week low of $2.78 and a fifty-two week high of $11.51.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SSL shares. Wall Street Zen upgraded Sasol from a "hold" rating to a "buy" rating in a report on Saturday. Weiss Ratings reiterated a "sell (d+)" rating on shares of Sasol in a research note on Wednesday, January 21st. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Sasol in a research report on Friday, January 16th. UBS Group lowered shares of Sasol from a "buy" rating to a "neutral" rating in a research note on Thursday, March 5th. Finally, The Goldman Sachs Group cut shares of Sasol from a "buy" rating to a "neutral" rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Sasol presently has an average rating of "Hold".

About Sasol

Sasol Limited is an integrated energy and chemical company headquartered in Johannesburg, South Africa. The company's core operations encompass the conversion of natural gas, coal and heavy hydrocarbons into liquid fuels and a wide array of chemical products. Sasol leverages proprietary Fischer-Tropsch and gas-to-liquids (GTL) technologies to deliver cleaner-burning diesel, jet fuel and naphtha, alongside solvents, surfactants and specialty polymers for industrial and consumer applications.

In addition to its GTL business, Sasol operates downstream facilities for the manufacture of alpha olefins, ethylene, propylene and other base-chemical intermediates.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.