Reconnaissance Energy Africa (CVE:RECO) Stock Price Down 14.9% - Should You Sell?

Key Points

• Reconnaissance Energy Africa's stock price fell by 14.9%, trading at C$0.57 after a previous close of C$0.67, with an increased trading volume of approximately 1.18 million shares.
• The company has a market capitalization of C$140.75 million and a low P/E ratio of 1.71, indicating potential undervaluation.
• Reconnaissance Energy Africa focuses on oil and gas exploration in Namibia and Botswana, holding significant interests in large petroleum exploration licenses.

Reconnaissance Energy Africa Ltd. (CVE:RECO - ) shares were down 14.9% on Friday . The stock traded as low as C$0.55 and last traded at C$0.57. Approximately 1,179,980 shares changed hands during mid-day trading, an increase of 256% from the average daily volume of 331,167 shares. The stock had previously closed at C$0.67.

Reconnaissance Energy Africa Stock Down 20.9%

The company has a market capitalization of C$140.75 million, a P/E ratio of 1.71 and a beta of -0.66. The firm has a 50-day moving average price of C$0.54 and a two-hundred day moving average price of 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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