Sound Energy (LON:SOU) Shares Up 20.2% – Time to Buy?

Sound Energy plc (LON:SOU)’s stock price shot up 20.2% during trading on Monday . The stock traded as high as GBX 1.10 and last traded at GBX 1.10. 1,038,755 shares were traded during trading, a decline of 40% from the average session volume of 1,735,833 shares. The stock had previously closed at GBX 0.92.

Sound Energy Price Performance

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 company has a fifty day moving average price of GBX 0.92 and a two-hundred day moving average price of GBX 0.77. The company has a market cap of £22.89 million, a P/E ratio of -4.40 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.