Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Free Report) shot up 25.3% on Thursday . The stock traded as high as C$1.26 and last traded at C$1.24. 1,389,000 shares traded hands during mid-day trading, an increase of 360% from the average session volume of 301,630 shares. The stock had previously closed at C$0.99.
Reconnaissance Energy Africa Price Performance
The stock has a 50-day moving average price of C$1.05 and a 200-day moving average price of C$1.02. The company has a market capitalization of C$225.37 million, a P/E ratio of 2.43 and a beta of 1.24.
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.
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