Reconnaissance Energy Africa (CVE:RECO) Trading 8.3% Higher - Still a Buy?

Reconnaissance Energy Africa Ltd. (CVE:RECO - Get Free Report)'s share price was up 8.3% on Wednesday . The stock traded as high as C$0.53 and last traded at C$0.52. Approximately 68,406 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 314,213 shares. The stock had previously closed at C$0.48.

Reconnaissance Energy Africa Stock Performance

The firm has a market cap of C$136.94 million, a P/E ratio of -5.39 and a beta of 1.24. The company has a 50 day moving average of C$0.56 and a 200 day moving average of C$0.86.

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.