Sound Energy (LON:SOU) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Sound Energy plc (LON:SOU) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 0.78 and traded as high as GBX 0.80. Sound Energy shares last traded at GBX 0.65, with a volume of 2,184,620 shares.

Sound Energy Stock Down 10.3%

The firm has a market capitalization of £13.52 million, a PE ratio of -2.60 and a beta of 1.83. The company has a 50-day moving average price of GBX 0.94 and a 200 day moving average price of GBX 0.78. The company has a debt-to-equity ratio of 182.23, a current ratio of 0.60 and a quick ratio of 2.08.

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.