Sound Energy (LON:SOU) Stock Price Down 12% – Time to Sell?

Shares of Sound Energy plc (LON:SOU) dropped 12% during mid-day trading on Tuesday . The company traded as low as GBX 1.60 and last traded at GBX 1.62. Approximately 1,361,193 shares were traded during trading, an increase of 66% from the average session volume of 818,473 shares. The stock had previously closed at GBX 1.84.

Sound Energy Price Performance

The company has a debt-to-equity ratio of -829.10, a quick ratio of 2.08 and a current ratio of 2.95. The firm has a fifty day moving average price of GBX 2.34 and a 200 day moving average price of GBX 5.22. The firm has a market capitalization of £3.67 million, a price-to-earnings ratio of -0.14 and a beta of 1.11.

Sound Energy (LON:SOU) last posted its quarterly earnings results on Friday, May 22nd. The company reported GBX (11.10) earnings per share for the quarter. As a group, sell-side analysts expect that Sound Energy plc will post -0.4 EPS for the current fiscal year.

Insider Activity at Sound Energy

In related news, insider Graham Lyon bought 603,093 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of GBX 2 per share, for a total transaction of £12,061.86. Insiders own 11.49% of the company’s stock.

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.