Sound Energy (LON:SOU) Trading Down 10.3% – Time to Sell?

Shares of Sound Energy plc (LON:SOUGet 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

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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.

Further Reading

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