Sound Energy (LON:SOU) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Sound Energy plc (LON:SOU) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 0.84 ($0.01) and traded as low as GBX 0.80 ($0.01). Sound Energy shares last traded at GBX 0.80 ($0.01), with a volume of 3,268,161 shares traded.

Sound Energy Stock Down 5.6 %

The company has a market cap of £16.36 million, a price-to-earnings ratio of -13.37 and a beta of 1.83. The company has a debt-to-equity ratio of 181.82, a current ratio of 5.72 and a quick ratio of 2.08. The firm has a 50-day moving average price of GBX 0.85 and a 200 day moving average price of GBX 0.84.

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.