Sound Energy (LON:SOU) Sets New 12-Month Low – Here’s What Happened

Shares of Sound Energy plc (LON:SOU) hit a new 52-week low on Monday . The stock traded as low as GBX 1.50 and last traded at GBX 1.54, with a volume of 190232 shares trading hands. The stock had previously closed at GBX 1.53.

Sound Energy Price Performance

The company has a market capitalization of £3.53 million, a price-to-earnings ratio of -0.14 and a beta of 1.10. The company has a current ratio of 0.05, a quick ratio of 2.08 and a debt-to-equity ratio of -541.45. The company’s 50 day simple moving average is GBX 1.67 and its 200-day simple moving average is GBX 3.20.

Sound Energy (LON:SOU) last posted its quarterly earnings data on Thursday, September 17th. The company reported GBX (1.46) earnings per share for the quarter. On average, equities research analysts predict that Sound Energy plc will post -0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sound Energy news, insider Graham Lyon purchased 603,093 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was bought at an average cost of GBX 2 per share, for a total transaction of £12,061.86. Company insiders own 11.49% of the company’s stock.

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.