Reconnaissance Energy Africa (CVE:RECO) Stock Price Up 4.3% – What’s Next?

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s share price rose 4.3% on Thursday . The stock traded as high as C$0.75 and last traded at C$0.73. 369,774 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 711,281 shares. The stock had previously closed at C$0.70.

Analyst Ratings Changes

Separately, Canaccord Genuity Group set a C$1.75 price target on Reconnaissance Energy Africa and gave the stock a “speculative buy” rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$1.75.

Reconnaissance Energy Africa Stock Up 4.1%

The firm has a market cap of C$293.38 million, a price-to-earnings ratio of -19.00 and a beta of -0.20. The company’s 50-day moving average price is C$0.88 and its 200-day moving average price is C$0.98.

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. Reconnaissance Energy Africa Ltd. is headquartered in Vancouver, Canada.