Reconnaissance Energy Africa (CVE:RECO) Shares Down 16.7% - What's Next?

Key Points

• Reconnaissance Energy Africa Ltd. shares dropped 16.7%, trading at C$0.70 after previously closing at C$0.84, with a trading volume increase of 158% compared to average daily volume.
• The company has a market capitalization of C$199.18 million and a PE ratio of 2.42, indicating its financial metrics amidst the recent stock decline.
• Reconnaissance Energy operates in Namibia and Botswana, holding a 90% interest in a significant petroleum exploration license covering approximately 25,341.33 square kilometers.

Reconnaissance Energy Africa Ltd. (CVE:RECO - ) dropped 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 were traded 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 Price Performance

The company has a 50 day moving average of C$0.52 and a two-hundred day moving average of C$0.53. The company has a market capitalization of C$199.18 million, a PE ratio of 2.42 and a beta of -0.66.

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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