Sound Energy (LON:SOU) Shares Down 5.9% – Here’s Why

Shares of Sound Energy plc (LON:SOU) were down 5.9% on Friday . The company traded as low as GBX 0.75 ($0.01) and last traded at GBX 0.80 ($0.01). Approximately 6,152,382 shares traded hands during trading, an increase of 174% from the average daily volume of 2,243,569 shares. The stock had previously closed at GBX 0.85 ($0.01).

Sound Energy Trading Down 5.9 %

The firm’s 50 day simple moving average is GBX 0.85 and its 200-day simple moving average is GBX 0.84. The company has a market capitalization of £16.32 million, a PE ratio of -13.33 and a beta of 1.83. The company has a quick ratio of 2.08, a current ratio of 5.72 and a debt-to-equity ratio of 181.82.

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.