Reconnaissance Energy Africa (CVE:RECO) Trading Down 16.4% - What's Next?

Key Points

• Reconnaissance Energy Africa Ltd. (CVE:RECO) saw its stock price decrease by 16.4%, trading as low as C$0.55 during mid-day trading on Friday.
• Approximately 1,181,480 shares were traded, representing an increase of 257% compared to its average daily volume of 331,167 shares.
• The company has a market capitalization of C$143.41 million and is involved in the exploration and development of oil and gas properties in Namibia and Botswana.

Reconnaissance Energy Africa Ltd. (CVE:RECO - Get Free Report)'s stock price traded down 16.4% on Friday . The stock traded as low as C$0.55 and last traded at C$0.56. 1,181,480 shares traded hands during mid-day trading, an increase of 257% from the average session volume of 331,167 shares. The stock had previously closed at C$0.67.

Reconnaissance Energy Africa Stock Down 5.5%

The company's fifty day moving average is C$0.54 and its two-hundred day moving average is C$0.53. The stock has a market cap of C$138.09 million, a price-to-earnings ratio of 1.68 and a beta of -0.66.

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.