Africa Energy (CVE:AFE) Stock Price Down 14.3% – What’s Next?

Shares of Africa Energy Corp. (CVE:AFE) traded down 14.3% during trading on Monday . The company traded as low as C$0.03 and last traded at C$0.03. 513,000 shares were traded during trading, an increase of 435% from the average session volume of 95,804 shares. The stock had previously closed at C$0.04.

Africa Energy Stock Down 14.3 %

The company has a quick ratio of 28.20, a current ratio of 0.25 and a debt-to-equity ratio of 28.69. The company has a market capitalization of C$29.69 million, a PE ratio of -0.14 and a beta of 1.06. The business’s 50 day simple moving average is C$0.04 and its 200 day simple moving average is C$0.03.

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.