Sound Energy (LON:SOU) Hits New 12-Month Low – Here’s What Happened

Sound Energy plc (LON:SOU)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as GBX 1.60 and last traded at GBX 1.64, with a volume of 243238 shares traded. The stock had previously closed at GBX 1.80.

Sound Energy Stock Performance

The company has a market capitalization of £3.74 million, a PE ratio of -0.66 and a beta of 1.02. The company has a quick ratio of 2.08, a current ratio of 2.95 and a debt-to-equity ratio of -829.10. The company has a 50-day moving average price of GBX 4.06 and a two-hundred day moving average price of GBX 6.93.

Sound Energy (LON:SOU) last announced its quarterly earnings results on Friday, May 22nd. The company reported GBX (11.10) earnings per share for the quarter. Analysts predict that Sound Energy plc will post -0.4 EPS for the current fiscal year.

About Sound Energy

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.