Sasol (NYSE:SSL) Stock Price Down 2.3% – Here’s What Happened

Sasol Limited (NYSE:SSL)’s share price dropped 2.3% during trading on Tuesday . The stock traded as low as $4.56 and last traded at $4.59. Approximately 247,014 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 728,757 shares. The stock had previously closed at $4.70.

Analyst Ratings Changes

Separately, StockNews.com lowered Sasol from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

Sasol Stock Performance

The stock has a 50-day moving average of $5.49 and a 200 day moving average of $6.67. 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 firm has a market capitalization of $3.00 billion, a P/E ratio of 2.05, a price-to-earnings-growth ratio of 0.13 and a beta of 2.35.

Hedge Funds Weigh In On Sasol

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its position in Sasol by 312.8% in the 3rd 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. XTX Topco Ltd grew its position in shares of Sasol by 184.7% in the third quarter. XTX Topco Ltd now owns 41,285 shares of the oil and gas company’s stock valued at $279,000 after purchasing an additional 26,785 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Sasol during the third quarter worth $94,000. Blue Trust Inc. increased its holdings in shares of Sasol by 145.2% during the third quarter. Blue Trust Inc. now owns 11,892 shares of the oil and gas company’s stock worth $80,000 after purchasing an additional 7,043 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Sasol by 7.4% during the 2nd quarter. Van ECK Associates Corp now owns 36,974 shares of the oil and gas company’s stock valued at $281,000 after acquiring an additional 2,535 shares during the period. Institutional investors own 1.21% of the company’s stock.

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.