Sound Energy (LON:SOU) Trading Down 12% – Here’s What Happened

Sound Energy plc (LON:SOU) fell 12% during mid-day trading on Tuesday . The company traded as low as GBX 1.60 and last traded at GBX 1.62. 1,361,193 shares changed hands during trading, an increase of 66% from the average daily volume of 818,473 shares. The stock had previously closed at GBX 1.84.

Sound Energy Stock Performance

The firm’s fifty day simple moving average is GBX 2.45 and its 200 day simple moving average is GBX 5.36. The company has a market capitalization of £3.71 million, a PE ratio of -0.15 and a beta of 1.11. The company has a debt-to-equity ratio of -829.10, a current ratio of 2.95 and a quick ratio of 2.08.

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

Insider Activity at Sound Energy

In other news, insider Graham Lyon acquired 603,093 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of GBX 2 per share, with a total value of £12,061.86. 11.49% of the stock is owned by insiders.

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.