Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Free Report) traded up 17.2% during trading on Wednesday . The stock traded as high as C$1.19 and last traded at C$1.16. 1,239,120 shares were traded during mid-day trading, an increase of 322% from the average session volume of 293,861 shares. The stock had previously closed at C$0.99.
Reconnaissance Energy Africa Price Performance
The stock’s 50 day moving average price is C$1.06 and its two-hundred day moving average price is C$1.02. The firm has a market capitalization of C$225.37 million, a price-to-earnings ratio of 2.43 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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