Sound Energy (LON:SOU) Shares Down 8.6% – Here’s What Happened

Sound Energy plc (LON:SOU) shares traded down 8.6% on Monday . The stock traded as low as GBX 1.60 and last traded at GBX 1.69. 4,161,313 shares traded hands during trading, an increase of 426% from the average session volume of 790,455 shares. The stock had previously closed at GBX 1.85.

Sound Energy Stock Down 8.6%

The company has a debt-to-equity ratio of -829.10, a current ratio of 2.95 and a quick ratio of 2.08. The firm’s 50 day moving average is GBX 4.39 and its two-hundred day moving average is GBX 7.06. The firm has a market capitalization of £3.86 million, a P/E ratio of -0.68 and a beta of 1.02.

Sound Energy (LON:SOU) last released its earnings results on Friday, May 22nd. The company reported GBX (11.10) earnings per share for the quarter. Research analysts predict that Sound Energy plc will post -0.4 EPS for the current year.

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.