Reconnaissance Energy Africa (CVE:RECO) Shares Down 17.9% - Time to Sell?

Key Points

• Reconnaissance Energy Africa Ltd. shares dropped 17.9%, trading between C$0.53 and C$0.55, following a spike in trading volume—up 478% from its average.
• The company's market capitalization stands at C$146.06 million, with a price-to-earnings ratio of 1.77 and a beta of -0.66.
• Reconnaissance Energy focuses on oil and gas exploration in Namibia and Botswana, holding significant interests in large petroleum licenses in both countries.

Reconnaissance Energy Africa Ltd. (CVE:RECO - ) fell 17.9% during mid-day trading on Saturday . The company traded as low as C$0.53 and last traded at C$0.55. 1,938,133 shares traded hands during trading, an increase of 478% from the average session volume of 335,483 shares. The stock had previously closed at C$0.67.

Reconnaissance Energy Africa Stock Down 17.9%

The stock has a market cap of C$146.06 million, a price-to-earnings ratio of 1.77 and a beta of -0.66. The stock's fifty day moving average is C$0.54 and its 200-day 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.

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