Sound Energy (LON:SOU) Reaches New 52-Week Low – Should You Sell?
by Danessa Lincoln · The Markets DailySound Energy plc (LON:SOU – Get Free Report)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as GBX 1.60 and last traded at GBX 1.70, with a volume of 847914 shares traded. The stock had previously closed at GBX 1.69.
Sound Energy Stock Up 0.9%
The business has a 50 day moving average of GBX 3.81 and a 200-day moving average of GBX 6.77. The stock has a market cap of £3.88 million, a PE ratio of -0.15 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 – Get Free Report) last released its quarterly earnings results on Friday, May 22nd. The company reported GBX (11.10) earnings per share (EPS) for the quarter. Equities research 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.