Reconnaissance Energy Africa (CVE:RECO) Trading Down 12.8% – Here’s What Happened

Shares of Reconnaissance Energy Africa Ltd. (CVE:RECOGet Free Report) dropped 12.8% on Friday . The stock traded as low as C$0.78 and last traded at C$0.85. Approximately 534,418 shares traded hands during trading, an increase of 27% from the average daily volume of 419,697 shares. The stock had previously closed at C$0.98.

Reconnaissance Energy Africa Trading Down 13.8 %

The company has a market cap of C$222.72 million, a P/E ratio of 2.40 and a beta of 1.24. The company’s 50-day moving average price is C$1.06 and its two-hundred day moving average price is C$1.02.

About Reconnaissance Energy Africa

(Get Free Report)

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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