Reconnaissance Energy Africa (CVE:RECO) Trading 6.1% Higher – Here’s What Happened

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s share price traded up 6.1% during mid-day trading on Wednesday . The company traded as high as C$1.08 and last traded at C$1.05. 237,181 shares were traded during mid-day trading, a decline of 1% from the average session volume of 238,914 shares. The stock had previously closed at C$0.99.

Reconnaissance Energy Africa Stock Up 17.2 %

The stock has a market cap of C$307.56 million, a price-to-earnings ratio of 3.31 and a beta of 1.24. The company has a 50 day simple moving average of C$1.05 and a 200 day simple moving average of C$1.02.

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.