Reconnaissance Energy Africa (CVE:RECO) Stock Price Up 6.9% – What’s Next?

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s share price traded up 6.9% during trading on Monday . The stock traded as high as C$0.65 and last traded at C$0.62. 181,653 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 288,859 shares. The stock had previously closed at C$0.58.

Reconnaissance Energy Africa Price Performance

The firm has a 50-day moving average price of C$0.54 and a 200 day moving average price of C$0.83. The company has a market cap of C$154.06 million, a price-to-earnings ratio of -6.07 and a beta of 1.24.

About Reconnaissance Energy Africa

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.