Reconnaissance Energy Africa (CVE:RECO) Trading Up 17.2% – What’s Next?

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s share price was up 17.2% on Wednesday . The company traded as high as C$1.19 and last traded at C$1.16. Approximately 1,239,120 shares traded hands during trading, an increase of 322% from the average daily volume of 293,861 shares. The stock had previously closed at C$0.99.

Reconnaissance Energy Africa Price Performance

The stock’s fifty day simple moving average is C$1.05 and its 200-day simple moving average is C$1.02. The company has a market capitalization of C$328.77 million, a P/E ratio of 3.54 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.