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

Sasol Limited (NYSE:SSL - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $4.78, but opened at $4.63. Sasol shares last traded at $4.64, with a volume of 206,499 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Sasol from a "buy" rating to a "hold" rating in a report on Tuesday, December 10th.

Sasol Price Performance

The company's 50 day moving average is $5.62 and its 200-day moving average is $6.71. 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

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. raised its position in shares of Sasol by 312.8% in the third quarter. Point72 Asset Management L.P. now owns 296,800 shares of the oil and gas company's stock valued at $2,006,000 after purchasing an additional 224,900 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Sasol during the third quarter worth approximately $670,000. Cubist Systematic Strategies LLC increased its stake in shares of Sasol by 81,913.0% during the second quarter. Cubist Systematic Strategies LLC now owns 63,150 shares of the oil and gas company's stock worth $481,000 after purchasing an additional 63,073 shares during the period. Creative Planning lifted its holdings in Sasol by 61.4% during the 2nd quarter. Creative Planning now owns 118,941 shares of the oil and gas company's stock worth $905,000 after purchasing an additional 45,243 shares during the last quarter. Finally, Cerity Partners LLC increased its position in Sasol by 173.2% during the 3rd quarter. Cerity Partners LLC now owns 63,417 shares of the oil and gas company's stock worth $429,000 after buying an additional 40,206 shares during the period. 1.21% of the stock is currently owned by institutional investors.

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.