Reconnaissance Energy Africa (CVE:RECO) Stock Price Down 13.8% – Should You Sell?

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s stock price dropped 13.8% during trading on Friday . The company traded as low as C$0.78 and last traded at C$0.84. Approximately 1,040,558 shares traded hands during trading, an increase of 134% from the average daily volume of 444,569 shares. The stock had previously closed at C$0.98.

Reconnaissance Energy Africa Stock Performance

The company’s 50-day simple moving average is C$1.06 and its two-hundred day simple moving average is C$1.02. The firm has a market cap of C$225.37 million, a PE ratio of 2.43 and a beta of 1.24.

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.