Sound Energy (LON:SOU) Hits New 52-Week Low – Time to Sell?

Sound Energy plc (LON:SOU) shares hit a new 52-week low on Monday . The company 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 PE 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 moving average price is GBX 1.67 and its 200-day moving average price is GBX 3.20.

Sound Energy (LON:SOU) last issued its earnings results on Thursday, September 17th. The company reported GBX (1.46) earnings per share for the quarter. On average, sell-side analysts forecast that Sound Energy plc will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

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

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.