Sasol (NYSE:SSL) Stock Price Down 3.6% – Here’s What Happened

Sasol Limited (NYSE:SSL)’s stock price dropped 3.6% during trading on Monday . The company traded as low as $5.29 and last traded at $5.31. Approximately 293,157 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 701,812 shares. The stock had previously closed at $5.51.

Wall Street Analysts Forecast Growth

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

Sasol Trading Down 4.7 %

The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.58 and a current ratio of 2.33. The company has a 50 day moving average of $6.31 and a 200-day moving average of $6.98.

Hedge Funds Weigh In On Sasol

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of Sasol in the 1st quarter worth approximately $199,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Sasol by 2.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 78,516 shares of the oil and gas company’s stock valued at $613,000 after acquiring an additional 1,900 shares during the period. Tidal Investments LLC bought a new position in shares of Sasol during the first quarter worth about $270,000. Lazard Asset Management LLC acquired a new stake in shares of Sasol in the 1st quarter worth about $275,000. Finally, CWM LLC lifted its position in Sasol by 62.7% in the 2nd quarter. CWM LLC now owns 5,417 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 2,087 shares during the last quarter. 1.21% of the stock is currently owned by institutional investors and hedge funds.

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.