Reconnaissance Energy Africa (CVE:RECO) Trading Down 7.9% – What’s Next?

Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO) were down 7.9% on Wednesday . The company traded as low as C$1.06 and last traded at C$1.11. Approximately 275,722 shares changed hands during trading, a decline of 15% from the average daily volume of 322,746 shares. The stock had previously closed at C$1.20.

Reconnaissance Energy Africa Trading Down 5.8 %

The company has a market cap of C$299.61 million, a P/E ratio of 3.43 and a beta of 1.24. The business’s 50 day simple moving average is C$0.99 and its 200 day simple moving average is C$1.10.

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.