Sasol (NYSE:SSL) Shares Down 2.4% – Time to Sell?

Shares of Sasol Limited (NYSE:SSL) dropped 2.4% during mid-day trading on Tuesday . The company traded as low as $3.06 and last traded at $3.05. Approximately 200,172 shares were traded during trading, a decline of 77% from the average daily volume of 879,951 shares. The stock had previously closed at $3.12.

Analysts Set New Price Targets

A number of research firms recently weighed in on SSL. Bank of America cut Sasol from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. StockNews.com lowered Sasol from a “buy” rating to a “hold” rating in a report on Sunday, March 30th.

Sasol Stock Performance

The company has a current ratio of 2.33, a quick ratio of 1.58 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $1.90 billion, a PE ratio of 1.29, a PEG ratio of 0.17 and a beta of 1.72. The stock’s 50 day moving average price is $4.34 and its two-hundred day moving average price is $5.14.

Hedge Funds Weigh In On Sasol

Institutional investors have recently modified their holdings of the company. Two Sigma Investments LP raised its holdings in Sasol by 100.7% in the 4th quarter. Two Sigma Investments LP now owns 1,054,238 shares of the oil and gas company’s stock valued at $4,807,000 after acquiring an additional 528,860 shares during the last quarter. Millennium Management LLC increased its stake in Sasol by 2,401.8% in the fourth quarter. Millennium Management LLC now owns 825,444 shares of the oil and gas company’s stock valued at $3,764,000 after purchasing an additional 792,450 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Sasol by 9.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 792,140 shares of the oil and gas company’s stock worth $3,612,000 after buying an additional 68,978 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Sasol by 119.0% during the 4th quarter. Renaissance Technologies LLC now owns 670,011 shares of the oil and gas company’s stock worth $3,055,000 after acquiring an additional 364,111 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Sasol by 6.1% in the fourth quarter. American Century Companies Inc. now owns 659,263 shares of the oil and gas company’s stock worth $3,006,000 after acquiring an additional 38,029 shares during the last quarter. Institutional investors and hedge funds 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.