Reconnaissance Energy Africa (CVE:RECO) Trading Down 16.7% - Here's Why

Key Points

• Reconnaissance Energy Africa Ltd. (CVE:RECO) shares fell by 16.7% during mid-day trading, hitting a price of C$0.70.
• The company has a market capitalization of C$199.18 million and a P/E ratio of 2.42.
• It holds significant interests in oil and gas exploration licenses across Namibia and Botswana, covering approximately 34,331.33 square kilometers.

Reconnaissance Energy Africa Ltd. (CVE:RECO - Get Free Report) was down 16.7% during trading on Monday . The stock traded as low as C$0.70 and last traded at C$0.70. Approximately 827,283 shares changed hands during mid-day trading, an increase of 158% from the average daily volume of 321,133 shares. The stock had previously closed at C$0.84.

Reconnaissance Energy Africa Trading Down 17.9%

The firm has a market capitalization of C$146.06 million, a P/E ratio of 1.77 and a beta of -0.66. The company's fifty day simple moving average is C$0.54 and its 200 day simple moving average is C$0.53.

Reconnaissance Energy Africa Company Profile

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.