Reconnaissance Energy Africa (CVE:RECO) Shares Down 19.4% – What’s Next?

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s share price traded down 19.4% during mid-day trading on Thursday . The stock traded as low as C$0.94 and last traded at C$1.00. 2,175,696 shares traded hands during mid-day trading, an increase of 457% from the average session volume of 390,385 shares. The stock had previously closed at C$1.24.

Reconnaissance Energy Africa Price Performance

The stock has a 50-day moving average of C$1.06 and a 200 day moving average of C$1.02. The stock has a market capitalization of C$258.51 million, a price-to-earnings ratio of 2.79 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.