Sound Energy (LON:SOU) Trading Down 25.5% – Time to Sell?

Shares of Sound Energy plc (LON:SOU) dropped 25.5% during trading on Tuesday . The company traded as low as GBX 3 and last traded at GBX 3.50. Approximately 2,336,850 shares traded hands during mid-day trading, an increase of 460% from the average daily volume of 417,399 shares. The stock had previously closed at GBX 4.70.

Sound Energy Price Performance

The company has a 50-day moving average of GBX 4.85 and a 200 day moving average of GBX 7.18. The firm has a market cap of £6.68 million, a P/E ratio of -1.17 and a beta of 1.02. The company has a debt-to-equity ratio of 326.29, a quick ratio of 2.08 and a current ratio of 2.78.

Sound Energy (LON:SOU) last released its quarterly earnings results on Friday, May 22nd. The company reported GBX (11.10) earnings per share for the quarter. On average, sell-side analysts anticipate that Sound Energy plc will post -0.4 EPS for the current 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.