Renaissance Oil (CVE:ROE) Stock Price Up 3% – Should You Buy?

Renaissance Oil Corp. (CVE:ROE) shot up 3% during mid-day trading on Thursday . The stock traded as high as C$0.51 and last traded at C$0.51. 1,991,062 shares traded hands during trading, an increase of 54% from the average session volume of 1,292,922 shares. The stock had previously closed at C$0.50.

Renaissance Oil Price Performance

The stock has a market cap of C$190.57 million and a P/E ratio of -6.22. The firm has a 50 day moving average price of C$0.51 and a 200 day moving average price of C$0.51. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 37.94.

Renaissance Oil Company Profile

Renaissance Oil Corp., together with its subsidiaries, engages in the acquisition, development, and production of oil and gas properties in Mexico and Africa. It holds interests in the Mundo Nuevo block covering an area of 27.7 square kilometers; Topén block covering an area of 25.3 square kilometers; and Malva block, including an area of 21.2 square kilometers located in Chiapas, Mexico.