Shares of Sound Energy plc (LON:SOU – Get Free Report) dropped 10.3% on Friday . The company traded as low as GBX 0.65 and last traded at GBX 0.65. Approximately 453,130 shares were traded during trading, a decline of 84% from the average daily volume of 2,853,874 shares. The stock had previously closed at GBX 0.73.
Sound Energy Stock Performance
The firm has a fifty day simple moving average of GBX 0.93 and a 200 day simple moving average of GBX 0.78. The company has a current ratio of 0.60, a quick ratio of 2.08 and a debt-to-equity ratio of 182.23. The stock has a market cap of £13.84 million, a price-to-earnings ratio of -2.66 and a beta of 1.83.
Sound Energy Company Profile
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.
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