Reconnaissance Energy Africa (CVE:RECO) Trading 52.1% Higher – Should You Buy?

by · The Cerbat Gem

Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Free Report) shot up 52.1% during trading on Wednesday . The company traded as high as C$0.76 and last traded at C$0.73. 5,163,450 shares traded hands during mid-day trading, an increase of 1,213% from the average session volume of 393,264 shares. The stock had previously closed at C$0.48.

Reconnaissance Energy Africa Stock Up 39.6%

The firm has a market cap of C$226.16 million, a price-to-earnings ratio of 2.16 and a beta of -0.19. The company has a 50 day moving average of C$0.48 and a 200 day moving average of C$0.51.

About Reconnaissance Energy Africa

(Get Free Report)

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.

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