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

Sound Energy plc (LON:SOUGet Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as GBX 5 and last traded at GBX 5.50, with a volume of 1735073 shares trading hands. The stock had previously closed at GBX 5.11.

Sound Energy Trading Down 5.3%

The company has a debt-to-equity ratio of 326.29, a current ratio of 2.78 and a quick ratio of 2.08. The stock’s 50 day moving average is GBX 7.94 and its 200-day moving average is GBX 7.75. The company has a market capitalization of £9.36 million, a P/E ratio of -1.80 and a beta of 1.02.

About Sound Energy

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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.

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