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

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

Analysts Set New Price Targets

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

Sasol Price Performance

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its stake in shares of Sasol by 7.1% in the second quarter. American Century Companies Inc. now owns 542,205 shares of the oil and gas company’s stock valued at $4,126,000 after buying an additional 35,818 shares in the last quarter. Point72 Asset Management L.P. grew its position in 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 acquiring an additional 224,900 shares in the last quarter. Creative Planning raised its stake in shares of Sasol by 21.8% during the third quarter. Creative Planning now owns 144,902 shares of the oil and gas company’s stock valued at $980,000 after purchasing an additional 25,961 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Sasol in the third quarter valued at $670,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in Sasol by 2.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 78,516 shares of the oil and gas company’s stock valued at $613,000 after purchasing an additional 1,900 shares in the last quarter. 1.21% of the stock is owned by hedge funds and other 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.