Sound Energy (LON:SOU) Sets New 1-Year Low – Here’s What Happened

Shares of Sound Energy plc (LON:SOU) reached a new 52-week low on Monday . The stock traded as low as GBX 1.50 and last traded at GBX 1.62, with a volume of 25873 shares changing hands. The stock had previously closed at GBX 1.62.

Sound Energy Stock Performance

The company has a current ratio of 2.95, a quick ratio of 2.08 and a debt-to-equity ratio of -829.10. The firm has a market capitalization of £3.71 million, a price-to-earnings ratio of -0.15 and a beta of 1.10. The stock has a fifty day moving average price of GBX 1.70 and a 200-day moving average price of GBX 3.33.

Insider Activity at Sound Energy

In other news, insider Graham Lyon bought 603,093 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of GBX 2 per share, with a total value of £12,061.86. Corporate insiders own 11.49% of the company’s stock.

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.