Sound Energy (LON:SOU) Trading 7.6% Higher – Still a Buy?

Sound Energy plc (LON:SOU) shares were up 7.6% during mid-day trading on Thursday . The stock traded as high as GBX 0.80 and last traded at GBX 0.78. Approximately 3,210,154 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 2,973,002 shares. The stock had previously closed at GBX 0.73.

Sound Energy Price Performance

The stock has a market capitalization of £14.21 million, a PE ratio of -2.73 and a beta of 1.83. The company has a debt-to-equity ratio of 182.23, a current ratio of 0.60 and a quick ratio of 2.08. The firm’s 50 day simple moving average is GBX 0.94 and its 200 day simple moving average is GBX 0.78.

About Sound Energy

Sound Energy is an upstream gas company with assets in Morocco, listed on the AIM market of the London Stock Exchange. Sound energy is focussed on providing lower carbon footprint fuels, powering the region’s energy transition through cash generative developments.

Sound Energy is developing Phase 1 of its operations in the Tendrara production concession, a Micro LNG facility to supply gas to Moroccan industry. Phase 2 will see gas delivered to the Maghreb-Europe pipeline. Our exploration portfolio continues to hold multi-Tcf upside potential.

Natural gas is a key part of Morocco’s de-carbonisation strategy, displacing power generation from carbon-intensive coal.