Sasol (NYSE:SSL) Shares Gap Down - Time to Sell?

Sasol Limited (NYSE:SSL - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $6.45, but opened at $6.30. Sasol shares last traded at $6.26, with a volume of 165,374 shares traded.

Analysts Set New Price Targets

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 Performance

The company has a current ratio of 2.33, a quick ratio of 1.58 and a debt-to-equity ratio of 0.89. The business has a 50 day simple moving average of $7.13 and a two-hundred day simple moving average of $7.32.

Institutional Trading of Sasol

A number of hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in shares of Sasol by 7.1% in the 2nd quarter. American Century Companies Inc. now owns 542,205 shares of the oil and gas company's stock valued at $4,126,000 after purchasing an additional 35,818 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Sasol by 53.0% in the first quarter. Pzena Investment Management LLC now owns 352,561 shares of the oil and gas company's stock valued at $2,754,000 after acquiring an additional 122,108 shares during the last quarter. Creative Planning grew its position in Sasol by 21.8% during the third quarter. Creative Planning now owns 144,902 shares of the oil and gas company's stock valued at $980,000 after acquiring an additional 25,961 shares during the period. O Shaughnessy Asset Management LLC increased its stake in Sasol by 2.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 78,516 shares of the oil and gas company's stock worth $613,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Sasol by 417.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 71,900 shares of the oil and gas company's stock worth $547,000 after purchasing an additional 58,000 shares during the period. 1.21% of the stock is owned by institutional investors and hedge funds.

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.