Reconnaissance Energy Africa (CVE:RECO) Shares Down 2.6% - What's Next?

Key Points

• Shares fell 2.6% on Thursday to C$1.12 (intraday low C$1.10) with about 748,000 shares traded, roughly 20% below the stock's average daily volume.
• The stock has a market cap of C$427.59 million, a negative P/E of -22.40, a low beta (0.11), and trades above its 50‑day (C$1.03) and 200‑day (C$0.84) moving averages.
• Reconnaissance is a junior oil and gas explorer holding a 90% interest in a ~25,341 sq km Namibia license and 100% interest in an ~8,990 sq km Botswana license.

Reconnaissance Energy Africa Ltd. (CVE:RECO - ) shares dropped 2.6% on Thursday . The stock traded as low as C$1.10 and last traded at C$1.12. Approximately 748,000 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 940,039 shares. The stock had previously closed at C$1.15.

Reconnaissance Energy Africa Trading Down 2.6%

The company's 50-day moving average price is C$1.03 and its two-hundred day moving average price is C$0.84. The company has a market cap of C$427.59 million, a P/E ratio of -22.40 and a beta of 0.11.

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. Reconnaissance Energy Africa Ltd. is headquartered in Vancouver, Canada.

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