Reconnaissance Energy Africa (CVE:RECO) Stock Price Down 17.9% - Here's What Happened

Key Points

• Reconnaissance Energy Africa Ltd. experienced a stock price drop of 17.9%, trading as low as C$0.53 and last at C$0.55 during Saturday's trading.
• The company has a market cap of C$146.06 million and a PE ratio of 1.77, indicating a potential investment opportunity despite the recent price decline.
• Reconnaissance Energy focuses on oil and gas exploration in Namibia and Botswana, holding significant interests in large petroleum exploration licenses in these regions.

Reconnaissance Energy Africa Ltd. (CVE:RECO - Get Free Report) shares fell 17.9% during mid-day trading on Saturday . The stock traded as low as C$0.53 and last traded at C$0.55. 1,938,133 shares traded hands during mid-day 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 Up 1.0%

The firm has a market cap of C$139.42 million, a P/E ratio of 1.69 and a beta of -0.66. The firm has a fifty day moving average of C$0.54 and a 200-day moving average of C$0.53.

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.