Sound Energy (LON:SOU) Stock Price Down 10.3% – Here’s Why

Sound Energy plc (LON:SOU) shares dropped 10.3% during mid-day trading on Friday . The stock traded as low as GBX 0.65 and last traded at GBX 0.65. Approximately 453,130 shares changed hands during trading, a decline of 84% from the average daily volume of 2,853,874 shares. The stock had previously closed at GBX 0.73.

Sound Energy Stock Up 2.8%

The business’s 50 day moving average is GBX 0.93 and its 200 day moving average is GBX 0.78. 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 market capitalization of £15.50 million, a price-to-earnings ratio of -2.98 and a beta of 1.83.

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.