Short Interest in Sasol Limited (NYSE:SSL) Increases By 24.7%

by · The Markets Daily

Sasol Limited (NYSE:SSL – Get Free Report) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 4,490,000 shares, a growth of 24.7% from the October 15th total of 3,600,000 shares. Based on an average daily volume of 806,900 shares, the days-to-cover ratio is currently 5.6 days.

Sasol Stock Performance

Shares of SSL stock traded up $0.06 during trading hours on Friday, hitting $5.24. 833,031 shares of the company’s stock were exchanged, compared to its average volume of 1,101,708. The stock’s 50-day moving average is $6.45 and its 200-day moving average is $7.04. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.33 and a quick ratio of 1.58. Sasol has a 52 week low of $5.14 and a 52 week high of $12.58.

Hedge Funds Weigh In On Sasol

A number of large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. increased its holdings 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 purchasing an additional 224,900 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Sasol in the third quarter valued at about $670,000. Cubist Systematic Strategies LLC boosted its position in Sasol by 81,913.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 63,150 shares of the oil and gas company’s stock worth $481,000 after acquiring an additional 63,073 shares during the last quarter. Creative Planning boosted its holdings in Sasol by 61.4% during the second quarter. Creative Planning now owns 118,941 shares of the oil and gas company’s stock worth $905,000 after purchasing an additional 45,243 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Sasol by 173.2% during the 3rd quarter. Cerity Partners LLC now owns 63,417 shares of the oil and gas company’s stock worth $429,000 after buying an additional 40,206 shares during the last quarter. 1.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Read Our Latest Analysis on SSL

About Sasol

(Get Free Report)

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.

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