Sound Energy (LON:SOU) Trading Up 13.3% – Time to Buy?

Sound Energy plc (LON:SOU) shares rose 13.3% during trading on Tuesday . The company traded as high as GBX 1.02 and last traded at GBX 1.02. Approximately 2,483,605 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 2,027,376 shares. The stock had previously closed at GBX 0.90.

Sound Energy Stock Performance

The company has a 50 day moving average of GBX 0.90 and a two-hundred day moving average of GBX 0.76. 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 company has a market capitalization of £21.22 million, a PE ratio of -4.08 and a beta of 1.83.

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.