Meren Energy (OTCMKTS:AOIFF) Stock Price Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Shares crossed above the 50-day moving average: Meren Energy (OTCMKTS:AOIFF) rose above its 50‑day MA of $1.62, trading as high as $1.77 and last at $1.7560 on volume of 88,537 shares.
• Mixed fundamentals: the stock carries a market cap of $1.19 billion and a negative P/E (-3.38), while liquidity and leverage appear moderate (current ratio 1.25, quick ratio 1.05, debt/equity 0.42).
• Company operations: the firm (listed here as Meren Energy/Africa Oil Corp) is an oil and gas exploration and production operator in Kenya, Nigeria and South Africa, with producing deep‑water Nigerian assets and a wider exploration portfolio in Namibia, Guyana and the Senegal‑Guinea Bissau JDA.

Meren Energy Inc. (OTCMKTS:AOIFF - ) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $1.62 and traded as high as $1.77. Meren Energy shares last traded at $1.7560, with a volume of 88,537 shares trading hands.

Meren Energy Stock Performance

The stock has a market cap of $1.19 billion, a P/E ratio of -3.38 and a beta of 0.53. The firm's 50-day moving average is $1.62 and its two-hundred day moving average is $1.41. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 0.42.

Meren Energy Company Profile

Africa Oil Corp., together with its subsidiaries, operates as an oil and gas exploration and production company in Kenya, Nigeria, and South Africa. The company holds interests in producing and development assets in deep-water Nigeria, and development assets in Kenya. It also has a portfolio of exploration and appraisal assets in Namibia, Nigeria, South Africa, and Kenya, as well as Guyana and Senegal Guinea Bissau Joint Development Zone. The company was formerly known as Canmex Minerals Corporation and changed its name to Africa Oil Corp.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.