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

Key Points

• Africa Energy Corp. shares crossed above their 50-day moving average of C$0.12, reaching a high of C$0.15 during trading.
• The stock has experienced a 25.0% increase recently, with a market capitalization of C$148.47 million and a P/E ratio of -0.69.
• Africa Energy focuses on oil and gas exploration, particularly in South Africa and Namibia, and has interest in several offshore blocks.

Shares of Africa Energy Corp. (CVE:AFE - ) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$0.12 and traded as high as C$0.15. Africa Energy shares last traded at C$0.15, with a volume of 3,000 shares.

Africa Energy Stock Up 25.0%

The firm has a fifty day moving average price of C$0.12 and a 200 day moving average price of C$0.07. The company has a quick ratio of 28.20, a current ratio of 0.25 and a debt-to-equity ratio of 28.69. The company has a market cap of C$148.47 million, a P/E ratio of -0.69 and a beta of 1.06.

Africa Energy Company Profile

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.

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