Sound Energy (LON:SOU) Reaches New 52-Week Low – Here’s Why

Shares of Sound Energy plc (LON:SOU) reached a new 52-week low on Monday . The stock traded as low as GBX 5 and last traded at GBX 5.50, with a volume of 1735073 shares changing hands. The stock had previously closed at GBX 5.11.

Sound Energy Price Performance

The company has a 50-day moving average of GBX 8.12 and a 200 day moving average of GBX 7.78. The company has a debt-to-equity ratio of 326.29, a quick ratio of 2.08 and a current ratio of 2.78. The firm has a market cap of £11.44 million, a P/E ratio of -2.20 and a beta of 1.02.

Sound Energy Company Profile

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.