Sound Energy (LON:SOU) Reaches New 52-Week Low – Should You Sell?

Sound Energy plc (LON:SOU)’s stock price hit a new 52-week low on Thursday . The stock traded as low as GBX 1.60 and last traded at GBX 1.70, with a volume of 847914 shares trading hands. The stock had previously closed at GBX 1.69.

Sound Energy Trading Up 0.9%

The firm has a market cap of £3.88 million, a PE ratio of -0.15 and a beta of 1.02. The company’s fifty day moving average price is GBX 3.81 and its two-hundred day moving average price is GBX 6.77. The company has a quick ratio of 2.08, a current ratio of 2.95 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) earnings per share for the quarter. As a group, sell-side analysts forecast that Sound Energy plc will post -0.4 earnings per share for the current fiscal year.

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.