Reconnaissance Energy Africa (CVE:RECO) Trading Up 11.3% – What’s Next?

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s share price shot up 11.3% on Monday . The stock traded as high as C$0.60 and last traded at C$0.59. 93,220 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 350,982 shares. The stock had previously closed at C$0.53.

Reconnaissance Energy Africa Trading Up 6.8 %

The firm has a market cap of C$154.06 million, a price-to-earnings ratio of -6.07 and a beta of 1.24. The firm’s 50 day simple moving average is C$0.75 and its two-hundred day simple moving average is C$0.92.

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.