Sound Energy (LON:SOU) Stock Price Up 10.6% – Should You Buy?

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

Sound Energy Price Performance

The firm’s 50-day moving average is GBX 4.62 and its 200-day moving average is GBX 7.13. The company has a debt-to-equity ratio of -829.10, a current ratio of 2.95 and a quick ratio of 2.08. The company has a market capitalization of £5.25 million, a P/E ratio of -0.92 and a beta of 1.02.

Sound Energy (LON:SOU) last announced its earnings results on Friday, May 22nd. The company reported GBX (11.10) earnings per share (EPS) for the quarter. Analysts predict that Sound Energy plc will post -0.4 EPS 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.