Sasol (NYSE:SSL) Shares Gap Up – Here’s Why

Sasol Limited (NYSE:SSL) 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 changing hands.

Analyst Upgrades and Downgrades

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

Sasol Stock Up 2.0 %

The company has a debt-to-equity ratio of 0.89, a current ratio of 2.33 and a quick ratio of 1.58. The stock’s fifty day moving average is $7.11 and its 200-day moving average is $7.31.

Institutional Investors Weigh In On Sasol

A number of hedge funds have recently modified their holdings of the company. Ballentine Partners LLC grew its holdings in shares of Sasol by 32.3% in the third quarter. Ballentine Partners LLC now owns 19,308 shares of the oil and gas company’s stock valued at $131,000 after purchasing an additional 4,712 shares during the period. Greenleaf Trust purchased a new position in Sasol during the third quarter worth about $134,000. Private Advisor Group LLC acquired a new position in shares of Sasol in the 3rd quarter worth approximately $94,000. Blue Trust Inc. lifted its holdings in shares of Sasol by 145.2% in the 3rd quarter. Blue Trust Inc. now owns 11,892 shares of the oil and gas company’s stock worth $80,000 after acquiring an additional 7,043 shares during the last quarter. Finally, Net Worth Advisory Group purchased a new position in shares of Sasol during the 3rd quarter worth approximately $145,000. Hedge funds and other institutional investors own 1.21% of the company’s stock.

About Sasol

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.