Sasol (NYSE:SSL) Shares Gap Up – Still a Buy?

Sasol Limited (NYSE:SSL)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $6.96, but opened at $7.13. Sasol shares last traded at $7.08, with a volume of 125,703 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Sasol from a “hold” rating to a “buy” rating in a report on Thursday, August 29th.

Sasol Stock Performance

The firm’s 50 day simple moving average is $7.30 and its 200 day simple moving average is $7.42. 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 Investors Weigh In On Sasol

A number of hedge funds have recently made changes to their positions in SSL. CWM LLC increased its stake in Sasol by 819.9% in the 1st quarter. CWM LLC now owns 3,330 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 2,968 shares during the last quarter. Mather Group LLC. bought a new stake in Sasol in the second quarter worth $28,000. Blue Trust Inc. raised its stake in Sasol by 247.6% during the second quarter. Blue Trust Inc. now owns 4,849 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 3,454 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Sasol by 3,112.4% during the first quarter. EverSource Wealth Advisors LLC now owns 6,714 shares of the oil and gas company’s stock valued at $52,000 after purchasing an additional 6,505 shares during the last quarter. Finally, PDS Planning Inc purchased a new position in shares of Sasol in the 1st quarter worth $79,000. 1.21% of the stock is currently owned by hedge funds and other institutional investors.

Sasol Company Profile

Sasol Limited operates as an integrated chemical and energy company in South Africa. It offers alumina, such as battery materials, catalyst supports, abrasives and polishing, and polymer additives; cobalt fischer-tropsch; carbon-based products; recarburiser; graphite electrodes; mono-ethylene glycol, ethylene, propylene, sasfroth blends, sodium cyanide, caustic soda, hydrochloric acid, sulfuric acid, calcium chloride, chlorine, alcohols, aromatic blends, methyl alcohol, polyethylene, polypropylene, polyvinyl chloride, cresols, xylenols, phenols, limestone ammonium nitrate, ammonium nitrate solution, and nitric acid.