Sasol (NYSE:SSL) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of Sasol Ltd. (NYSE:SSL) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.88 and traded as high as $6.32. Sasol shares last traded at $6.13, with a volume of 1,015,114 shares trading hands.

Analysts Set New Price Targets

SSL has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, October 8th. Zacks Research lowered shares of Sasol from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 25th. Wall Street Zen cut shares of Sasol from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Morgan Stanley cut shares of Sasol from an “overweight” rating to an “equal weight” rating in a research note on Monday, September 22nd. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Sasol Stock Down 2.2%

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.27. The firm has a 50-day moving average of $6.33 and a two-hundred day moving average of $5.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. increased its stake in shares of Sasol by 7.6% during the first quarter. American Century Companies Inc. now owns 709,675 shares of the oil and gas company’s stock worth $3,002,000 after buying an additional 50,412 shares during the period. Walleye Capital LLC boosted its holdings in Sasol by 17.4% in the first quarter. Walleye Capital LLC now owns 58,116 shares of the oil and gas company’s stock valued at $246,000 after purchasing an additional 8,616 shares in the last quarter. FORA Capital LLC purchased a new stake in shares of Sasol during the 1st quarter worth approximately $55,000. Trexquant Investment LP raised its stake in Sasol by 368.2% during the 1st quarter. Trexquant Investment LP now owns 437,517 shares of the oil and gas company’s stock worth $1,851,000 after acquiring an additional 344,066 shares in the last quarter. Finally, Vident Advisory LLC lifted its position in Sasol by 75.9% in the first quarter. Vident Advisory LLC now owns 71,586 shares of the oil and gas company’s stock valued at $303,000 after acquiring an additional 30,896 shares during the last quarter. 1.21% of the stock is 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.