Sasol (NYSE:SSL) Shares Gap Down - Here's What Happened

Shares of Sasol Limited (NYSE:SSL - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $6.14, but opened at $5.80. Sasol shares last traded at $5.72, with a volume of 194,670 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com raised Sasol from a "hold" rating to a "buy" rating in a research note on Thursday, August 29th.

Sasol Price Performance

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 company has a 50-day moving average of $6.64 and a 200-day moving average of $7.10.

Hedge Funds Weigh In On Sasol

Several institutional investors and hedge funds have recently modified their holdings of the business. QRG Capital Management Inc. grew its position in shares of Sasol by 47.5% in the 3rd quarter. QRG Capital Management Inc. now owns 16,903 shares of the oil and gas company's stock valued at $114,000 after purchasing an additional 5,440 shares during the period. US Bancorp DE grew its position in shares of Sasol by 51.7% in the 3rd quarter. US Bancorp DE now owns 20,986 shares of the oil and gas company's stock valued at $142,000 after purchasing an additional 7,150 shares during the period. Ballentine Partners LLC grew its position in shares of Sasol by 32.3% in the 3rd 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 acquired a new position in Sasol during the 3rd quarter worth approximately $134,000. Finally, Private Advisor Group LLC acquired a new position in Sasol during the 3rd quarter worth approximately $94,000. 1.21% of the stock is currently 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.