Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Free Report) rose 25.3% during trading on Wednesday . The company traded as high as C$1.26 and last traded at C$1.24. Approximately 1,389,000 shares changed hands during trading, an increase of 360% from the average daily volume of 301,630 shares. The stock had previously closed at C$0.99.
Reconnaissance Energy Africa Trading Up 25.3 %
The firm’s fifty day simple moving average is C$1.05 and its two-hundred day simple moving average is C$1.02. The company has a market capitalization of C$328.77 million, a price-to-earnings ratio of 3.54 and a beta of 1.24.
About Reconnaissance Energy Africa
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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