Sound Energy (LON:SOU) Shares Down 9.6% – Time to Sell?

Sound Energy plc (LON:SOU)’s stock price was down 9.6% during mid-day trading on Wednesday . The stock traded as low as GBX 0.90 and last traded at GBX 0.90. Approximately 118,085 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 1,700,734 shares. The stock had previously closed at GBX 1.

Sound Energy Stock Down 8.1%

The firm has a 50-day moving average of GBX 0.94 and a two-hundred day moving average of GBX 0.77. The firm has a market cap of £17.69 million, a price-to-earnings ratio of -3.40 and a beta of 1.83. The company has a current ratio of 0.60, a quick ratio of 2.08 and a debt-to-equity ratio of 182.23.

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.