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

Shares of Sasol Ltd. (NYSE:SSL - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.15 and traded as high as $13.10. Sasol shares last traded at $12.8750, with a volume of 916,842 shares traded.Wall Street Analysts Forecast GrowthSeveral analysts have recently commented on the stock. Wall Street Zen upgraded shares of Sasol from a "hold" rating to a "buy" rating in a research note on Saturday, March 14th. The Goldman Sachs Group cut shares of Sasol from a "buy" rating to a "neutral" rating in a research note on Monday, February 9th. UBS Group cut shares of Sasol from a "buy" rating to a "neutral" rating in a research note on Thursday, March 5th. Zacks Research cut shares of Sasol from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Sasol in a research note on Monday. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Sasol has an average rating of "Reduce".Read Our Latest Research Report on SSLSasol Stock Down 0.0%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 company's 50 day moving average is $11.15 and its 200 day moving average is $8.15. Hedge Funds Weigh In On SasolHedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atlas Capital Advisors Inc. acquired a new position in Sasol during the fourth quarter worth about $35,000. Caitong International Asset Management Co. Ltd raised its position in Sasol by 232.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company's stock worth $36,000 after acquiring an additional 3,920 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Sasol by 347.3% during the second quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company's stock worth $40,000 after acquiring an additional 6,957 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Sasol during the second quarter worth about $52,000. Finally, GAMMA Investing LLC raised its position in Sasol by 107.9% during the third quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company's stock worth $54,000 after acquiring an additional 4,482 shares during the last quarter. Institutional investors and hedge funds own 1.21% of the company's stock. About Sasol (Get Free Report)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.Further ReadingFive stocks we like better than SasolThis 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.Should You Invest $1,000 in Sasol Right Now?Before you consider Sasol, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sasol wasn't on the list.While Sasol currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here