Sound Energy (LON:SOU) Stock Price Down 22.2% – Here’s Why

Sound Energy plc (LON:SOU)’s stock price dropped 22.2% on Tuesday . The company traded as low as GBX 0.61 and last traded at GBX 0.70. Approximately 20,999,246 shares traded 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 company’s 50-day moving average is GBX 0.97 and its 200-day moving average is GBX 0.78. The company has a debt-to-equity ratio of 182.23, a quick ratio of 2.08 and a current ratio of 0.60. The firm has a market cap of £15.50 million, a price-to-earnings ratio of -2.98 and a beta of 1.83.

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.