Reconnaissance Energy Africa (CVE:RECO) Shares Down 11.3% – Here’s What Happened

Reconnaissance Energy Africa Ltd. (CVE:RECO) shares fell 11.3% on Friday . The company traded as low as C$0.99 and last traded at C$1.02. 3,073,763 shares traded hands during mid-day trading, an increase of 68% from the average session volume of 1,830,974 shares. The stock had previously closed at C$1.15.

Reconnaissance Energy Africa Trading Down 12.7%

The business has a fifty day simple moving average of C$0.77 and a 200 day simple moving average of C$0.60. The stock has a market capitalization of C$300.56 million, a P/E ratio of 2.87 and a beta of 0.20.

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. Reconnaissance Energy Africa Ltd. is headquartered in Vancouver, Canada.