Sound Energy (LON:SOU) Shares Down 4.5% – Here’s Why

Sound Energy plc (LON:SOU)’s stock price traded down 4.5% on Friday . The company traded as low as GBX 0.98 and last traded at GBX 1.05. 589,398 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 2,937,799 shares. The stock had previously closed at GBX 1.10.

Sound Energy Stock Performance

The company has a quick ratio of 2.08, a current ratio of 0.60 and a debt-to-equity ratio of 182.23. The stock has a fifty day simple moving average of GBX 0.81 and a 200-day simple moving average of GBX 0.74. The company has a market capitalization of £21.85 million, a P/E ratio of -4.20 and a beta of 1.83.

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.