Sound Energy (LON:SOU) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Sound Energy plc (LON:SOU)’s share price passed 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 changing hands.

Sound Energy Price Performance

The firm has a 50-day moving average price of GBX 0.85 and a 200 day moving average price of GBX 0.84. The stock has a market capitalization of £16.32 million, a P/E ratio of -13.33 and a beta of 1.83. The company has a debt-to-equity ratio of 181.82, a quick ratio of 2.08 and a current ratio of 5.72.

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.