Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO - Get Free Report) dropped 18.3% during mid-day trading on Thursday . The stock traded as low as C$0.47 and last traded at C$0.47. Approximately 2,404,775 shares were traded during mid-day trading, an increase of 796% from the average daily volume of 268,380 shares. The stock had previously closed at C$0.58.
Reconnaissance Energy Africa Stock Performance
The stock has a fifty day simple moving average of C$0.57 and a 200 day simple moving average of C$0.75. The firm has a market cap of C$112.00 million, a P/E ratio of -4.41 and a beta of 1.24.
About Reconnaissance Energy Africa
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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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