Sound Energy (LON:SOU) Trading Up 13.5% on Insider Buying Activity

Sound Energy plc (LON:SOU)’s stock price shot up 13.5% on Friday following insider buying activity. The company traded as high as GBX 0.74 ($0.01) and last traded at GBX 0.74 ($0.01). 9,306,359 shares changed hands during mid-day trading, an increase of 252% from the average session volume of 2,646,121 shares. The stock had previously closed at GBX 0.65 ($0.01).

Specifically, insider Graham Lyon purchased 2,945,296 shares of the business’s stock in a transaction that occurred on Thursday, April 10th. The stock was purchased at an average cost of GBX 1 ($0.01) per share, with a total value of £29,452.96 ($38,550.99).

Sound Energy Price Performance

The company has a current ratio of 0.60, a quick ratio of 2.08 and a debt-to-equity ratio of 182.23. The stock has a fifty day simple moving average of GBX 0.72 and a two-hundred day simple moving average of GBX 0.78. The company has a market cap of £13.77 million, a PE ratio of -0.09 and a beta of 1.83.

Sound Energy (LON:SOU) last posted its quarterly earnings results on Thursday, April 10th. The company reported GBX (6.28) (($0.08)) earnings per share for the quarter. On average, equities analysts predict that Sound Energy plc will post -0.4 EPS for the current fiscal year.

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.