Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO - Get Free Report) dropped 14.9% during trading on Friday . The stock traded as low as C$0.55 and last traded at C$0.57. Approximately 1,032,549 shares traded hands during mid-day trading, an increase of 215% from the average daily volume of 327,584 shares. The stock had previously closed at C$0.67.
Reconnaissance Energy Africa Trading Down 5.5%
The firm's fifty day moving average price is C$0.54 and its 200 day moving average price is C$0.53. The stock has a market capitalization of C$138.09 million, a price-to-earnings ratio of 1.68 and a beta of -0.66.
About Reconnaissance Energy Africa
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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.
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