Reconnaissance Energy Africa (CVE:RECO) Trading Up 9.3% – Still a Buy?

Reconnaissance Energy Africa Ltd. (CVE:RECO) shares were up 9.3% during trading on Thursday . The company traded as high as C$1.18 and last traded at C$1.18. Approximately 1,111,282 shares were traded during trading, an increase of 13% from the average daily volume of 983,741 shares. The stock had previously closed at C$1.08.

Reconnaissance Energy Africa Stock Down 5.9%

The firm has a market cap of C$423.77 million, a price-to-earnings ratio of -22.20 and a beta of -0.11. The business has a 50 day moving average of C$0.94 and a 200 day moving average of C$0.78.

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