Reconnaissance Energy Africa (CVE:RECO) Trading Down 7.1% - Here's Why

Key Points

• The share price of Reconnaissance Energy Africa dropped by 7.1%, closing at C$0.78 after reaching a low of C$0.77.
• About 407,361 shares were traded, marking an increase of 28% from the average daily volume of 318,312 shares.
• Reconnaissance Energy Africa has a market capitalization of C$199.18 million and a low PE ratio of 2.42, indicating it is significantly undervalued compared to earnings.

Reconnaissance Energy Africa Ltd. (CVE:RECO - Get Free Report)'s share price traded down 7.1% on Monday . The company traded as low as C$0.77 and last traded at C$0.78. 407,361 shares were traded during trading, an increase of 28% from the average session volume of 318,312 shares. The stock had previously closed at C$0.84.

Reconnaissance Energy Africa Stock Down 17.9%

The firm 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 50-day moving average price is C$0.54 and its 200 day moving average price 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.