Reconnaissance Energy Africa (CVE:RECO) Stock Price Down 4.3% – What’s Next?

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s share price traded down 4.3% on Friday . The company traded as low as C$0.88 and last traded at C$0.89. 417,472 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 1,046,651 shares. The stock had previously closed at C$0.93.

Reconnaissance Energy Africa Stock Performance

The firm’s 50-day moving average is C$0.87 and its two-hundred day moving average is C$0.72. The stock has a market cap of C$336.42 million, a P/E ratio of 2.87 and a beta of 0.62.

Reconnaissance Energy Africa Company Profile

Reconnaissance Energy Africa Ltd., a junior oil and gas company, engages in exploration and development of oil and gas properties in Namibia and Botswana. The company holds a 90% interest in a petroleum exploration license that covers an area of approximately 25,341.33 square kilometer located in Namibia; and 100% working interest in a petroleum license, which covers an area of 8,990 square kilometer located in northwestern Botswana. Reconnaissance Energy Africa Ltd. is headquartered in Vancouver, Canada.