Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Free Report) fell 17.9% during mid-day trading on Saturday . The stock traded as low as C$0.53 and last traded at C$0.55. 1,938,133 shares changed hands during mid-day trading, an increase of 478% from the average session volume of 335,483 shares. The stock had previously closed at C$0.67.
Reconnaissance Energy Africa Trading Down 17.9%
The firm has a market cap of C$146.06 million, a price-to-earnings ratio of 1.77 and a beta of -0.66. The company has a fifty day moving average price of C$0.54 and a 200-day moving average price of C$0.53.
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.
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