Africa Energy (CVE:AFE) Shares Cross Above Fifty Day Moving Average - Should You Sell?

Key Points

• Africa Energy Corp. (CVE:AFE) shares rose above their 50-day moving average of C$0.13, trading as high as C$0.15 with a volume of 12,000 shares.
• The company has a market capitalization of C$143.52 million, a P/E ratio of -0.67, and a high debt-to-equity ratio of 28.69.
• Africa Energy focuses on oil and gas exploration in South Africa and Namibia, particularly on potential gas condensate development offshore.

Africa Energy Corp. (CVE:AFE - Get Free Report) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$0.13 and traded as high as C$0.15. Africa Energy shares last traded at C$0.15, with a volume of 12,000 shares traded.

Africa Energy Price Performance

The company has a debt-to-equity ratio of 28.69, a current ratio of 0.25 and a quick ratio of 28.20. The firm has a 50-day moving average of C$0.14 and a 200-day moving average of C$0.07. The stock has a market cap of C$143.52 million, a PE ratio of -0.67 and a beta of 1.06.

About Africa Energy

Africa Energy Corp. operates as an oil and gas exploration and production company in South Africa and Namibia. The company focuses on potential gas condensate development on Block 11B/12B offshore in South Africa. It also holds interest in the Block 2B offshore the Republic of South Africa. The company was formerly known as Horn Petroleum Corporation and changed its name to Africa Energy Corp.