Sasol (NYSE:SSL) Shares Gap Up – Time to Buy?

Sasol Limited (NYSE:SSL) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.02, but opened at $5.18. Sasol shares last traded at $5.24, with a volume of 219,824 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Sasol from a “buy” rating to a “hold” rating in a research report on Tuesday.

Sasol Stock Performance

The company’s fifty day moving average is $5.87 and its 200 day moving average is $6.79. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.33 and a quick ratio of 1.58.

Institutional Trading of Sasol

A number of hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. grew its position in shares of Sasol by 312.8% during the third quarter. Point72 Asset Management L.P. now owns 296,800 shares of the oil and gas company’s stock worth $2,006,000 after buying an additional 224,900 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Sasol in the third quarter worth $670,000. Cubist Systematic Strategies LLC boosted its holdings in Sasol by 81,913.0% in 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 boosted its holdings in Sasol by 61.4% in the second 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 period. Finally, Cerity Partners LLC boosted its holdings in Sasol by 173.2% in the third quarter. Cerity Partners LLC now owns 63,417 shares of the oil and gas company’s stock worth $429,000 after purchasing an additional 40,206 shares during the period. Hedge funds and other institutional investors own 1.21% of the company’s stock.

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.