Sasol (NYSE:SSL) Shares Down 2.4% - Time to Sell?
Sasol Limited (NYSE:SSL) shares fell 2.4% to $3.05 amid a significant drop in trading volume. Analysts have downgraded the stock from 'buy' to 'hold' or 'neutral'. Institutional investors have increased their stakes, with notable increases from Two Sigma Investments and Millennium Management. Sasol operates in the chemical and energy sector, offering a range of products. Despite the current hold rating, analysts suggest there are better investment opportunities available.
Shares of Sasol Limited (NYSE:SSL - Get Free Report) dropped 2.4% during mid-day trading on Tuesday . The company traded as low as $3.06 and last traded at $3.05. Approximately 200,172 shares were traded during trading, a decline of 77% from the average daily volume of 879,951 shares. The stock had previously closed at $3.12.
Analysts Set New Price Targets
A number of research firms recently weighed in on SSL. Bank of America cut Sasol from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. StockNews.com lowered Sasol from a "buy" rating to a "hold" rating in a report on Sunday, March 30th.
Get Our Latest Stock Analysis on SSL
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 firm has a market capitalization of $1.90 billion, a PE ratio of 1.29, a PEG ratio of 0.17 and a beta of 1.72. The stock's 50 day moving average price is $4.34 and its two-hundred day moving average price is $5.14.
Hedge Funds Weigh In On Sasol
Institutional investors have recently modified their holdings of the company. Two Sigma Investments LP raised its holdings in Sasol by 100.7% in 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. Millennium Management LLC increased its stake in Sasol by 2,401.8% in 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 purchasing an additional 792,450 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Sasol by 9.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 792,140 shares of the oil and gas company's stock worth $3,612,000 after buying an additional 68,978 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Sasol by 119.0% during the 4th quarter. Renaissance Technologies LLC now owns 670,011 shares of the oil and gas company's stock worth $3,055,000 after acquiring an additional 364,111 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Sasol by 6.1% in the fourth quarter. American Century Companies Inc. now owns 659,263 shares of the oil and gas company's stock worth $3,006,000 after acquiring an additional 38,029 shares during the last quarter. Institutional investors and hedge funds own 1.21% of the company's stock.
About Sasol
(Get Free Report)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.
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