Sasol (NYSE:SSL) Shares Gap Up - What's Next?
Sasol Ltd. (NYSE:SSL) shares gapped up from $5.52 to $6.38 before trading at $6.40, with a volume of 614,819 shares. Analysts have mixed ratings: Morgan Stanley downgraded to 'equal weight', Wall Street Zen upgraded to 'strong-buy', and Weiss Ratings maintained a 'sell (d+)' rating. Sasol's market cap is $4.21 billion, with a P/E ratio of 2.85. Hedge funds have increased their stakes significantly, with notable boosts from Millennium Management and Bank of America. Currently, Sasol holds a consensus rating of 'Reduce'.
Sasol Ltd. (NYSE:SSL - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $5.52, but opened at $6.38. Sasol shares last traded at $6.40, with a volume of 614,819 shares trading hands.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on SSL. Morgan Stanley lowered shares of Sasol from an "overweight" rating to an "equal weight" rating in a research note on Monday, September 22nd. Wall Street Zen upgraded shares of Sasol from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 11th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Sasol in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sasol presently has a consensus rating of "Reduce".
Get Our Latest Stock Analysis on Sasol
Sasol Trading Up 17.4%
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 company has a 50 day moving average of $6.33 and a 200 day moving average of $5.09. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 2.85, a P/E/G ratio of 0.29 and a beta of 0.78.
Hedge Funds Weigh In On Sasol
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its stake in shares of Sasol by 75.7% in the 1st quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company's stock valued at $6,135,000 after buying an additional 624,911 shares during the period. American Century Companies Inc. lifted its stake in Sasol by 25.5% in the second quarter. American Century Companies Inc. now owns 890,502 shares of the oil and gas company's stock valued at $3,936,000 after buying an additional 180,827 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Sasol by 11.9% in the second 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 period. Bank of America Corp DE grew its holdings in Sasol by 206.2% during the second quarter. Bank of America Corp DE now owns 537,250 shares of the oil and gas company's stock worth $2,375,000 after acquiring an additional 361,777 shares during the period. Finally, Trexquant Investment LP grew its holdings in Sasol by 368.2% during the first quarter. Trexquant Investment LP now owns 437,517 shares of the oil and gas company's stock worth $1,851,000 after acquiring an additional 344,066 shares during the period. Hedge funds and other institutional investors own 1.21% of the company's stock.
About Sasol
(Get Free Report)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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