Reconnaissance Energy Africa (CVE:RECO) Stock Price Down 17.9% - Time to Sell?
Reconnaissance Energy Africa Ltd. (CVE:RECO) shares fell 17.9% to C$0.55 on Friday, with trading volume increasing by 478% to approximately 1.94 million shares. The stock's 50-day moving average is C$0.54, and its market cap stands at C$146.06 million. Analysts currently rate the stock as a Hold, but it is not among the top recommendations from leading analysts. The company focuses on oil and gas exploration in Namibia and Botswana, holding significant interests in petroleum licenses in both countries.
Reconnaissance Energy Africa Ltd. (CVE:RECO - Get Free Report) shares were down 17.9% on Friday . The stock traded as low as C$0.53 and last traded at C$0.55. Approximately 1,938,133 shares changed hands during trading, an increase of 478% from the average daily volume of 335,483 shares. The stock had previously closed at C$0.67.
Reconnaissance Energy Africa Trading Down 17.9%
The firm's 50-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$146.06 million, a price-to-earnings ratio of 1.77 and a beta of -0.66.
Reconnaissance Energy Africa Company Profile
(Get Free Report)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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