Sound Energy (LON:SOU) Trading 10.6% Higher – Time to Buy?

Sound Energy plc (LON:SOU) shares traded up 10.6% on Thursday . The company traded as high as GBX 2.47 and last traded at GBX 2.43. 2,813,157 shares were traded during mid-day trading, an increase of 314% from the average session volume of 678,930 shares. The stock had previously closed at GBX 2.20.

Sound Energy Price Performance

The stock has a fifty day simple moving average of GBX 4.39 and a two-hundred day simple moving average of GBX 7.06. The company has a market cap of £4.29 million, a PE ratio of -0.75 and a beta of 1.02. The company has a current ratio of 2.95, a quick ratio of 2.08 and a debt-to-equity ratio of -829.10.

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