Africa Energy (CVE:AFE) Stock Price Passes Above 50 Day Moving Average - Should You Sell?

Key Points

• Africa Energy Corp. shares have crossed above their fifty-day moving average, currently trading at C$0.18, up from a moving average of C$0.15.
• The company has a market cap of C$86.25 million and a notable negative price-to-earnings ratio of -2.00.
• Africa Energy focuses on oil and gas exploration in South Africa and Namibia, with interests in key offshore blocks.

Shares of Africa Energy Corp. (CVE:AFE - Get Free Report) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$0.15 and traded as high as C$0.18. Africa Energy shares last traded at C$0.18, with a volume of 1,001 shares trading hands.

Africa Energy Stock Down 2.8%

The company has a current ratio of 0.25, a quick ratio of 28.20 and a debt-to-equity ratio of 28.69. The business has a fifty day simple moving average of C$0.15 and a two-hundred day simple moving average of C$0.09. The company has a market cap of C$83.85 million, a PE ratio of -1.94 and a beta of -0.95.

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.