Sasol (NYSE:SSL) Stock Price Down 2.4% - Here's What Happened

Sasol Limited (NYSE:SSL - Get Free Report) shares dropped 2.4% on Tuesday . The company traded as low as $3.06 and last traded at $3.05. Approximately 200,172 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 879,951 shares. The stock had previously closed at $3.12.

Wall Street Analyst Weigh In

A number of research firms have commented on SSL. StockNews.com lowered shares of Sasol from a "buy" rating to a "hold" rating in a research note on Sunday, March 30th. Bank of America downgraded shares of Sasol from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th.

Sasol Stock Up 8.1 %

The business's 50-day moving average price is $4.15 and its 200-day moving average price is $5.00. The firm has a market capitalization of $2.23 billion, a PE ratio of 1.51, a price-to-earnings-growth ratio of 0.17 and a beta of 1.72. The company has a quick ratio of 1.58, a current ratio of 2.33 and a debt-to-equity ratio of 0.89.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC raised its position in Sasol by 2,401.8% during the fourth quarter. Millennium Management LLC now owns 825,444 shares of the oil and gas company's stock valued at $3,764,000 after acquiring an additional 792,450 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of Sasol by 100.7% during the 4th quarter. Two Sigma Investments LP now owns 1,054,238 shares of the oil and gas company's stock valued at $4,807,000 after acquiring an additional 528,860 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Sasol in the 4th quarter worth approximately $1,674,000. Renaissance Technologies LLC boosted its position in Sasol by 119.0% during the fourth quarter. Renaissance Technologies LLC now owns 670,011 shares of the oil and gas company's stock worth $3,055,000 after purchasing an additional 364,111 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in Sasol by 108.8% during the fourth quarter. Two Sigma Advisers LP now owns 610,200 shares of the oil and gas company's stock valued at $2,783,000 after purchasing an additional 317,900 shares during the last quarter. Hedge funds and other institutional investors own 1.21% of the company's stock.

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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.