Sound Energy (LON:SOU) Stock Price Down 13.3% – Here’s What Happened

Shares of Sound Energy plc (LON:SOU – Get Free Report) dropped 13.3% during mid-day trading on Wednesday . The stock traded as low as GBX 1.80 and last traded at GBX 1.82. Approximately 669,431 shares traded hands during trading, a decline of 23% from the average daily volume of 864,468 shares. The stock had previously closed at GBX 2.10.

Sound Energy Stock Down 13.3%

The company has a current ratio of 2.95, a quick ratio of 2.08 and a debt-to-equity ratio of -829.10. The firm has a market capitalization of £4.16 million, a price-to-earnings ratio of -0.16 and a beta of 1.14. The business’s fifty day moving average price is GBX 3.15 and its 200 day moving average price is GBX 6.18.

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Sound Energy (LON:SOU – Get Free Report) last announced its earnings results on Friday, May 22nd. The company reported GBX (11.10) EPS for the quarter. On average, equities analysts expect that Sound Energy plc will post -0.4 EPS for the current year.

Insider Buying and Selling

In other news, insider Graham Lyon bought 603,093 shares of Sound Energy stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average price of GBX 2 per share, for a total transaction of £12,061.86. Insiders own 11.49% of the company’s stock.

About Sound Energy

(Get Free Report)

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.

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