Sasol (NYSE:SSL) Shares Gap Up – What’s Next?

Sasol Limited (NYSE:SSL) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.88, but opened at $6.19. Sasol shares last traded at $6.13, with a volume of 257,162 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Sasol from a “hold” rating to a “buy” rating in a report on Thursday, August 29th.

Sasol Price Performance

The company’s 50 day moving average is $7.08 and its 200-day moving average is $7.30. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.33 and a quick ratio of 1.58.

Hedge Funds Weigh In On Sasol

A number of institutional investors and hedge funds have recently made changes to their positions in SSL. Mather Group LLC. purchased a new stake in shares of Sasol in the 2nd quarter worth approximately $28,000. Blue Trust Inc. grew its stake in shares of Sasol by 247.6% in the second quarter. Blue Trust Inc. now owns 4,849 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 3,454 shares during the last quarter. CWM LLC increased its holdings in shares of Sasol by 62.7% during the second quarter. CWM LLC now owns 5,417 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 2,087 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Sasol by 3,112.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,714 shares of the oil and gas company’s stock worth $52,000 after purchasing an additional 6,505 shares during the last quarter. Finally, PDS Planning Inc bought a new position in Sasol in the 1st quarter worth about $79,000. 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.