Sound Energy (LON:SOU) Trading Down 22.2% – Should You Sell?

Sound Energy plc (LON:SOU) dropped 22.2% during mid-day trading on Tuesday . The stock traded as low as GBX 0.61 and last traded at GBX 0.70. Approximately 20,999,246 shares changed hands during mid-day trading, an increase of 608% from the average daily volume of 2,965,627 shares. The stock had previously closed at GBX 0.90.

Sound Energy Trading Down 17.2%

The business’s 50 day simple moving average is GBX 0.97 and its 200-day simple moving average is GBX 0.78. The company has a debt-to-equity ratio of 182.23, a current ratio of 0.60 and a quick ratio of 2.08. The stock has a market capitalization of £15.50 million, a P/E ratio of -2.98 and a beta of 1.83.

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.