Sound Energy (LON:SOU) Trading 38.5% Higher – Here’s What Happened

Sound Energy plc (LON:SOU) rose 38.5% on Thursday . The company traded as high as GBX 9.25 and last traded at GBX 9. Approximately 952,391 shares changed hands during mid-day trading, an increase of 212% from the average daily volume of 305,401 shares. The stock had previously closed at GBX 6.50.

Sound Energy Trading Up 3.5%

The firm has a market capitalization of £183.09 million, a PE ratio of -35.20 and a beta of 1.83. The firm has a 50 day simple moving average of GBX 8.71 and a 200 day simple moving average of GBX 7.73. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 326.29.

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.