Reconnaissance Energy Africa (CVE:RECO) Shares Up 37.5% – Here’s Why

by · The Markets Daily

Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Free Report) traded up 37.5% on Wednesday . The company traded as high as C$0.76 and last traded at C$0.66. 7,612,463 shares traded hands during mid-day trading, an increase of 1,780% from the average session volume of 404,857 shares. The stock had previously closed at C$0.48.

Reconnaissance Energy Africa Price Performance

The firm has a 50-day simple moving average of C$0.48 and a 200-day simple moving average of C$0.51. The firm has a market capitalization of C$226.16 million, a PE ratio of 2.16 and a beta of -0.19.

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.

Further Reading