Africa Oil (OTCMKTS:AOIFF) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Africa Oil Corp. (OTCMKTS:AOIFF)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.37 and traded as low as $1.32. Africa Oil shares last traded at $1.33, with a volume of 91,829 shares.

Wall Street Analysts Forecast Growth

Separately, Barclays upgraded Africa Oil to a “strong-buy” rating in a research report on Tuesday, January 21st.

Africa Oil Price Performance

The firm has a market cap of $582.60 million, a price-to-earnings ratio of -1.59 and a beta of 1.01. The company has a current ratio of 8.99, a quick ratio of 8.99 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $1.35 and a 200 day moving average of $1.37.

Africa Oil Company Profile

Africa Oil Corp., together with its subsidiaries, operates as an oil and gas exploration and production company in Kenya, Nigeria, and South Africa. The company holds interests in producing and development assets in deep-water Nigeria, and development assets in Kenya. It also has a portfolio of exploration and appraisal assets in Namibia, Nigeria, South Africa, and Kenya, as well as Guyana and Senegal Guinea Bissau Joint Development Zone.