Sound Energy (LON:SOU) Trading Down 8.7% – Should You Sell?

Sound Energy plc (LON:SOU) dropped 8.7% during mid-day trading on Monday . The stock traded as low as GBX 0.70 ($0.01) and last traded at GBX 0.72 ($0.01). Approximately 830,966 shares changed hands during trading, a decline of 58% from the average daily volume of 1,978,248 shares. The stock had previously closed at GBX 0.78 ($0.01).

Sound Energy Price Performance

The firm has a market capitalization of £14.90 million, a P/E ratio of -0.10 and a beta of 1.83. The company has a quick ratio of 2.08, a current ratio of 0.60 and a debt-to-equity ratio of 182.23. The business’s 50 day moving average is GBX 0.88 and its 200-day moving average is GBX 0.82.

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.