Reconnaissance Energy Africa (CVE:RECO) Shares Down 16.7% - Time to Sell?

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 - ) shares were down 16.7% during mid-day trading on Monday . The stock traded as low as C$0.70 and last traded at C$0.70. Approximately 827,283 shares traded hands during 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 Stock Down 10.7%

The firm has a market cap of C$199.18 million, a P/E ratio of 2.42 and a beta of -0.66. The firm has a fifty day moving average of C$0.52 and a 200-day moving average of C$0.53.

About Reconnaissance Energy Africa

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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