Reconnaissance Energy Africa (CVE:RECO) Stock Price Down 3% - Here's Why

Key Points

• Reconnaissance Energy Africa Ltd. (CVE:RECO) saw its stock price drop by 3% during trading, with shares last trading at C$0.49 after previously closing at C$0.50.
• The company has a market capitalization of C$118.60 million and a price-to-earnings ratio of -4.67, indicating potential challenges in profitability.
• Reconnaissance Energy focuses on oil and gas exploration and development, holding significant interests in petroleum licenses in Namibia and Botswana.

Reconnaissance Energy Africa Ltd. (CVE:RECO - Get Free Report)'s share price was down 3% during mid-day trading on Thursday . The company traded as low as C$0.48 and last traded at C$0.49. Approximately 138,510 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 312,786 shares. The stock had previously closed at C$0.50.

Reconnaissance Energy Africa Price Performance

The stock's 50-day moving average price is C$0.46 and its 200-day moving average price is C$0.54. The company has a market cap of C$118.60 million, a P/E ratio of -4.67 and a beta of 1.24.

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.