Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Free Report)’s share price dropped 13.2% during trading on Friday . The company traded as low as C$0.87 and last traded at C$0.89. Approximately 3,474,864 shares changed hands during mid-day trading, an increase of 77% from the average daily volume of 1,962,282 shares. The stock had previously closed at C$1.02.
Reconnaissance Energy Africa Trading Down 13.7%
The stock’s 50-day moving average price is C$0.77 and its 200-day moving average price is C$0.60. The company has a market capitalization of C$297.18 million, a P/E ratio of 2.84 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.
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