Africa Energy (CVE:AFE) Stock Passes Below 50-Day Moving Average – Here’s What Happened

Africa Energy Corp. (CVE:AFE)’s share price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$0.03 and traded as low as C$0.03. Africa Energy shares last traded at C$0.03, with a volume of 42,000 shares.

Africa Energy Stock Performance

The firm has a market capitalization of C$42.30 million, a PE ratio of -0.16 and a beta of 1.06. The company has a debt-to-equity ratio of 13.68, a current ratio of 0.24 and a quick ratio of 28.20. The stock has a 50-day moving average price of C$0.03 and a 200-day moving average price of C$0.04.

Africa Energy Company Profile

Africa Energy Corp. operates as an oil and gas exploration and production company in South Africa and Namibia. The company focuses on potential gas condensate development on Block 11B/12B offshore in South Africa. It also holds interest in the Block 2B offshore the Republic of South Africa. The company was formerly known as Horn Petroleum Corporation and changed its name to Africa Energy Corp.