Sound Energy (LON:SOU) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Sound Energy plc (LON:SOU) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 0.78 and traded as high as GBX 0.95. Sound Energy shares last traded at GBX 0.83, with a volume of 394,575 shares traded.

Sound Energy Stock Down 5.1%

The business has a 50-day moving average price of GBX 0.96 and a 200-day moving average price of GBX 0.78. The company has a market capitalization of £17.27 million, a price-to-earnings ratio of -3.32 and a beta of 1.83. The company has a quick ratio of 2.08, a current ratio of 0.60 and a debt-to-equity ratio of 182.23.

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.